During the week ending March 6, steel scrap prices in the Chinese domestic market have increased, while transaction activity in the overall market has been at low-to-medium levels. Average scrap prices in China’s main markets are presented in the following table.
During the given week, scrap prices have moved on an overall upward trend, with larger increases seen in southwestern and central China on the back of good demand for scrap resulting from production restrictions on blast furnaces. Meanwhile, scrap supply has also been insufficient in some areas, which has helped to push up scrap prices. As for the coming period, construction sites will gradually step up their activities starting from mid-March, which will exert a positive impact on scrap prices. It is expected that scrap prices in the Chinese domestic market will move up further in the coming week.
|
Product Name |
Spec. |
Origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly Change (RMB/mt) |
|
HMS scrap |
> 6 mm |
Tianjin |
2,850 |
450 |
↑120 |
|
Liupanshui |
2,340 |
369 |
↑175 |
||
|
Zhangjiagang |
2,770 |
437 |
↑150 |
||
|
Handan |
2,720 |
429 |
↑60 |
||
|
Nanchang |
2,630 |
415 |
↑285 |
||
|
Anyang |
2,600 |
410 |
↑150 |
||
|
Jinan |
2,640 |
416 |
↑60 |
||
|
Average |
2,650 |
418 |
↑143 |
All prices are ex-warehouse and include 17 percent VAT.
$1 = RMB 6.34