As of March 26, steel scrap prices in the Chinese domestic market have risen slightly in some regions on week-on-week basis, though remaining unchanged week on week in Tianjin, Handan and Anyang, 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, domestic scrap prices first increased but later moved down, though prices in most regions are slightly higher compared to one week ago. Due to decreases in semi-finished steel prices, steelmakers have tried to lower their purchase prices for scrap. However, steelmakers’ demand for scrap has improved, and this has bolstered scrap prices. At the same time, major Chinese steelmaker Shagang Group has slightly raised its purchase prices for scrap, which will provide support for scrap prices in the market. It is expected that scrap prices in the Chinese domestic market will mostly move upwards 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 |
0 |
|
Liupanshui |
2,575 |
384 |
↑45 |
||
|
Zhangjiagang |
2,760 |
411 |
↑20 |
||
|
Handan |
2,700 |
402 |
0 |
||
|
Nanchang |
2,610 |
389 |
↑10 |
||
|
Anyang |
2,435 |
363 |
0 |
||
|
Jinan |
2,715 |
405 |
↑35 |
||
|
Average |
2,656 |
396 |
↑16 |
All prices are ex-warehouse and include 16 percent VAT.
$1 = RMB 6.71