During the week ending April 23, steel scrap prices in the Chinese domestic market have moved on a diverse trend, 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, due to downward corrections seen in finished steel prices and Tangshan billet prices, scrap prices in Handan and Zhangjiagang have decreased slightly, while have seen slight uptrend in Nanchang and Jinan, though remaining stable in other regions. Steelmakers have been willing to conclude purchases for scrap due to the approaching Labor Day holiday (May 1-5), which will provide certain support to scrap prices. It is expected that scrap prices in the Chinese domestic market will likely edge up in the coming week.
|
Product Name |
Spec. |
Origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly Change (RMB/mt) |
|
HMS scrap |
> 6 mm |
Tianjin |
2,710 |
404 |
0 |
|
Liupanshui |
2,540 |
379 |
0 |
||
|
Zhangjiagang |
2,700 |
402 |
↓10 |
||
|
Handan |
2,615 |
390 |
↓35 |
||
|
Nanchang |
2,600 |
387 |
↑20 |
||
|
Anyang |
2,510 |
374 |
0 |
||
|
Jinan |
2,710 |
404 |
↑10 |
||
|
Average |
2,627 |
392 |
↓2 |
All prices are ex-warehouse and include 13 percent VAT.
$1 = RMB 6.71