During the week ending January 22, steel scrap prices in the Chinese domestic market have indicated either stable or rising movement, 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, most steelmakers have been seeking to build up their scrap stocks, resulting in the rises seen in scrap prices in some regions. Some steelmakers have almost completed their stock replenishment activities, while others still need to purchase scrap. At the same time, rebar futures prices at Shanghai Futures Exchange (SHFE) have increased, which will exert a positive impact on the steel scrap market. It is expected that steel scrap prices in the Chinese domestic market will move sideways in the coming week.
|
Product Name |
Spec. |
Origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly Change (RMB/mt) |
|
HMS scrap |
> 6 mm |
Tianjin |
2,840 |
417 |
↑70 |
|
Liupanshui |
2,520 |
370 |
0 |
||
|
Zhangjiagang |
2,820 |
414 |
0 |
||
|
Handan |
2,685 |
394 |
↑55 |
||
|
Nanchang |
2,645 |
388 |
0 |
||
|
Anyang |
2,560 |
376 |
↑55 |
||
|
Jinan |
2,700 |
396 |
0 |
||
|
Average |
2,681 |
394 |
↑26 |
All prices are ex-warehouse and include 16 percent VAT.
$1 = RMB 6.81