This week, with downstream users having come back to the market to replenish their stocks, scrap prices in the Chinese domestic market have indicated some increases. Moreover, during the given week, due to limited supply, some steelmakers have been forced to increase their purchase prices in order to secure orders. The bigger declines in scrap prices compared to those in finished steel prices have emboldened Chinese steelmakers to accept the new prices for feedstock. With the workable prices for import HS scrap almost unchanged week on week at $335-350/mt CFR, no trading has been heard this week. Meanwhile, the latest ex-Japan HS scrap offer prices have been heard at JPY 52,000/mt ($381/mt) CFR, down $15/mt week on week.
Average domestic HMS scrap prices in China are at RMB 2,407/mt ex-warehouse, moving up by RMB 82/mt compared to July 20, according to SteelOrbis’ information.
Average scrap prices in China’s main markets are presented in the following table.
|
Product name |
Specification |
Origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly change (RMB/mt) |
Weekly change ($/mt) |
|
HMS |
> 6 mm |
Tianjin |
2,430 |
360.1 |
+20 |
+2.8 |
|
Liupanshui, Guizhou |
2,430 |
360.1 |
+205 |
+30.2 |
||
|
Nanchang, Jiangxi |
2,370 |
351.2 |
+40 |
+5.8 |
||
|
Handan, Hebei |
2,440 |
361.6 |
+70 |
+10.2 |
||
|
Anyang, Henan |
2,340 |
346.8 |
+50 |
+7.3 |
||
|
Zhangjiagang, Jiangsu |
2,410 |
357.1 |
+80 |
+11.7 |
||
|
Jinan, Shandong |
2,430 |
360.1 |
+110 |
+16.1 |
||
|
Average |
2,407 |
356.7 |
+82 |
+12.0 |
||
|
Note: Prices include 3 percent VAT as of March 1 2022. |
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$1 = RMB 6.7731