During the week ending June 18, steel scrap prices in the Chinese domestic market have moved on diverse trends, while transaction activity in the overall market has been at low levels. Average scrap prices in China’s main markets are presented in the following table.
During the given week, in some regions of China scrap prices have increased due to support from rising iron ore prices, while in other regions scrap prices edged down due to slack demand. Steelmakers’ profit margins have recently shrunk, exerting a negative impact on scrap prices. It is expected that scrap prices in the Chinese domestic market will edge down slightly in the coming week.
|
Product Name |
Spec. |
Origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly Change (RMB/mt) |
|
HMS scrap |
> 6 mm |
Tianjin |
2,670 |
385 |
↓20 |
|
Liupanshui |
2,580 |
372 |
↑25 |
||
|
Zhangjiagang |
2,655 |
383 |
↓15 |
||
|
Handan |
2,610 |
377 |
↓20 |
||
|
Nanchang |
2,490 |
359 |
↓10 |
||
|
Anyang |
2,580 |
372 |
↑40 |
||
|
Jinan |
2,690 |
388 |
0 |
||
|
Average |
2,611 |
377 |
0 |
All prices are ex-warehouse and include 13 percent VAT.
$1 = RMB 6.93