During the week ending October 17, steel scrap prices in the Chinese market have seen rises in most regions, while remaining stable in other regions. 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 supply and transportation have been negatively affected due to environmental protection issue, resulting in supply in certain shortage. Thus scrap prices moved up in eastern and northern China. However, steelmakers’ capacity utilization rate will be lower due to the coming 19th National Congress of the Communist Party of China being held on October 18, which will negatively affect demand for scrap. It is thought that scrap prices in the Chinese domestic market will likely move sideways in the coming week.
|
Product Name |
Spec. |
Origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly Change (RMB/mt) |
|
HMS scrap |
> 6 mm |
Tianjin |
1,930 |
292 |
↑90 |
|
Liupanshui |
1,555 |
235 |
0 |
||
|
Zhangjiagang |
2,080 |
315 |
↑90 |
||
|
Handan |
1,900 |
287 |
↑70 |
||
|
Nanchang |
1,880 |
284 |
↑40 |
||
|
Anyang |
1,855 |
281 |
↑60 |
||
|
Jinan |
1,970 |
298 |
0 |
||
|
Average |
1,881 |
285 |
↑50 |
All prices are ex-warehouse and include 17 percent VAT.
$1 = RMB 6.61