Average scrap prices in the Chinese domestic market have seen minimal changes over the past week, with only slight declines seen in some provinces.
Average domestic HMS scrap prices in China are at RMB 2,234/mt ex-warehouse, decreasing by RMB 9/mt on average compared to the previous week, according to SteelOrbis’ information.
Average scrap prices in China’s main markets are presented in the following table.
Product name |
Specification |
Origin |
Price |
Price |
Weekly change |
Weekly change |
HMS scrap |
> 6 mm |
Tianjin |
2,390 |
333.2 |
0 |
-0.1 |
Liupanshui,Guizhou |
2,195 |
306.0 |
10 |
1.3 |
||
Nanchang,Jiangxi |
2,140 |
298.3 |
0 |
-0.1 |
||
Handan,Hebei |
2,340 |
326.2 |
-10 |
-1.5 |
||
Anyang,Henan |
2,215 |
308.8 |
-20 |
-2.9 |
||
Zhangjiagang,Jiangsu |
2,195 |
306.0 |
-20 |
-2.9 |
||
Jinan,Shandong |
2,160 |
301.1 |
-20 |
-2.9 |
||
Average |
2,234 |
311.4 |
-9 |
-1.3 |
||
Note: Prices include 3 percent VAT as of March 1 2022. |
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During the given week, scrap prices in the Chinese domestic market have edged down slightly amid the still uneven trend in the steel market. Moreover, several countries have announced antidumping duties on Chinese steel products, weakening market sentiments. Arrivals of scrap at steel mills have increased significantly, negatively affecting prices. It is thought that scrap prices in the Chinese domestic market will move down further in the coming week.
$1 = RMB 7.1732