Average scrap prices in the Chinese domestic market have edged down compared to the previous week, but only very slightly, with prices in many regions relatively stable. However, a cautious positive mood prevails in the market for the near future.
Average domestic HMS scrap prices in China are at RMB 2,631/mt ex-warehouse, decreasing by RMB 7/mt on average compared to 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 |
> 6 mm |
Tianjin |
2,740 |
380.6 |
-10 |
-2.5 |
|
Liupanshui,Guizhou |
2,575 |
357.7 |
0 |
-1.0 |
||
|
Nanchang,Jiangxi |
2,595 |
360.5 |
-10 |
-2.4 |
||
|
Handan,Hebei |
2,720 |
377.8 |
0 |
-1.1 |
||
|
Anyang,Henan |
2,620 |
363.9 |
-30 |
-5.2 |
||
|
Zhangjiagang,Jiangsu |
2,650 |
368.1 |
0 |
-1.1 |
||
|
Jinan,Shandong |
2,520 |
350.0 |
0 |
-1.0 |
||
|
Average |
2,631 |
365.5 |
-7 |
-2.1 |
||
|
Note: Prices include 3 percent VAT as of March 1 2022. |
||||||
During the given week, scrap prices have seen a slight downtrend amid the fluctuation in steel prices. However, market players think downstream users may build up stocks ahead of the long National Day holiday (September 29-October 6), which will bolster scrap prices to a certain degree. Currently, the supply of scrap is tight, which will also exert a positive impact on prices. It is expected that scrap prices may edge up in the coming week.
The latest ex-Japan HS scrap tradable price has remained at $380-385/mt CFR, while offers are at $390-400/mt CFR.
$1 = RMB 7.1894