Local Chinese steel scrap prices move sideways or upwards

Tuesday, 19 March 2019 13:55:01 (GMT+3)   |   Shanghai
       

During the week ending March 19, steel scrap prices in the Chinese domestic market have moved sideways in a small majority of regions, while increasing in Tianjin, Liupanshui and Handan, 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 in regions around Hebei Province have moved up from bottom levels, while remaining stable in other regions. In the given period, finished steel prices have risen, with stocks continuing to be consumed. Meanwhile, environmental protection measures have been lifted in many regions, exerting a positive impact on demand for scrap. Most market participants expect to see a positive trend for scrap prices. It is thought that scrap prices in the Chinese domestic market will increase in the coming week. 

Product Name

Spec.

Origin

Price (RMB/mt)

Price ($/mt)

Weekly Change

(RMB/mt)

HMS scrap

> 6 mm

Tianjin

2,795

417

↑25

Liupanshui

2,530

377

↑60

Zhangjiagang

2,740

408

0

Handan

2,700

402

↑60

Nanchang

2,600

387

0

Anyang

2,435

363

0

Jinan

2,680

399

0

Average

2,640

393

↑21

 

All prices are ex-warehouse and include 16 percent VAT.

$1 = RMB 6.71


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