During the week ending December 11, steel scrap prices in the Chinese domestic market have mostly rebounded, 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.
Finished steel prices in the Chinese domestic market generally increased during the early part of the past week, providing support for scrap prices, most of which in turn have rebounded. However, demand for scrap has been slack due to the cold and snowy weather conditions which have hit China. Meanwhile, in recent days, downticks have been observed in rebar and wire rod prices in China, which will reduce the support for scrap prices. It is expected that scrap prices in the Chinese domestic market will fluctuate within a limited range in the coming week.
|
Product Name |
Spec. |
Origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly Change (RMB/mt) |
|
HMS scrap |
> 6 mm |
Tianjin |
2.490 |
361 |
↑50 |
|
Liupanshui |
2.320 |
336 |
↑115 |
||
|
Zhangjiagang |
2.610 |
378 |
↑60 |
||
|
Handan |
2.480 |
359 |
0 |
||
|
Nanchang |
2.420 |
351 |
↑90 |
||
|
Anyang |
2.425 |
351 |
0 |
||
|
Jinan |
2.530 |
367 |
↑175 |
||
|
Average |
2.468 |
358 |
↑70 |
All prices are ex-warehouse and include 16 percent VAT.
$1 = RMB 6.90