Average scrap prices in the Chinese domestic market have edged up slightly compared to the previous week, though the changes have been minimal and the overall fundamentals have not improved so far.
Average domestic HMS scrap prices in China are at RMB 2,711/mt ex-warehouse, increasing by RMB 7/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 |
2,790 |
392.6 |
0 |
0.1 |
Liupanshui,Guizhou |
2,720 |
382.7 |
0 |
0.1 |
||
Nanchang,Jiangxi |
2,670 |
375.7 |
30 |
4.3 |
||
Handan,Hebei |
2,800 |
394.0 |
10 |
1.5 |
||
Anyang,Henan |
2,650 |
372.9 |
0 |
0.1 |
||
Zhangjiagang,Jiangsu |
2,730 |
384.1 |
10 |
1.5 |
||
Jinan,Shandong |
2,620 |
368.7 |
0 |
0.1 |
||
Average |
2,711 |
381.5 |
7 |
1.1 |
||
Note: Prices include three percent VAT as of March 1, 2022. |
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During the given week, scrap prices in the Chinese domestic market have seen slight rises some recycling centers have returned to work from the long holiday, though transaction activities have not improved to normal levels yet. Inventory of scrap on the steelmakers’ side has decreased, exerting a positive impact on prices. It is thought that scrap prices in the Chinese domestic market will likely indicate further increases in the coming week.
The tradable level for ex-Japan HS has remained at $375-385/mt CFR for Chinese buyers, while offers are $20/mt higher.
$1 = RMB 7.103