Average scrap prices in the Chinese domestic market have continued their fluctuating trend within a limited range in the past week.
Average domestic HMS scrap prices in China are at RMB 2,611/mt ex-warehouse, edging up slightly 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 |
2,710 |
377.2 |
10 |
2.1 |
|
Liupanshui,Guizhou |
2,530 |
352.1 |
0 |
0.7 |
||
|
Nanchang,Jiangxi |
2,585 |
359.8 |
0 |
0.7 |
||
|
Handan,Hebei |
2,680 |
373.0 |
0 |
0.7 |
||
|
Anyang,Henan |
2,640 |
367.4 |
-15 |
-1.4 |
||
|
Zhangjiagang,Jiangsu |
2,630 |
366.0 |
15 |
2.8 |
||
|
Jinan,Shandong |
2,500 |
347.9 |
0 |
0.7 |
||
|
Average |
2,611 |
363.4 |
1 |
0.9 |
Note: Prices include 3 percent VAT as of March 1 2022.
During the given week, scrap prices in the Chinese domestic market have mostly moved sideways amid the tight supply of materials in circulation. Inventory of scrap at steelmakers is at relatively low levels, bolstering prices. Against the backdrop of increasing iron ore prices, scrap prices are considered to be more competitive, while demand has not seen any significant improvement. Moreover, production restrictions will be implemented in the future, which will weaken the demand for scrap. It is expected that scrap prices in the Chinese domestic market will again fluctuate within a limited range in the coming week.
The latest ex-Japan HS scrap tradable price is still at $375/mt CFR.
$1 = RMB 7.1816