During the week ending June 7, local steel scrap prices in the Chinese market have indicated a downward trend in Anyang, Henan Province, though remaining stable for the other regions, while transaction activity in the overall market has been at low levels. Average scrap prices in China's main markets are presented in the following table.
During the given week, major steelmakers in Anyang, Henan Province, have lowered their purchase prices for scrap, resulting in declines in scrap prices in Anyang. In other regions, both steelmakers and traders have chosen to keep their prices stable amid low transaction activity. Recently, some increases have been seen in domestic finished steel prices, while iron ore prices have indicated upticks. It is thought that scrap prices in the Chinese domestic market will likely move sideways in the coming week.
Product Name |
Spec. |
Origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly Change (RMB/mt) |
HMS scrap |
> 6 mm |
Tianjin |
1,400 |
213 |
↔0 |
Liupanshui |
1,370 |
209 |
↔0 |
||
Zhangjiagang |
1,350 |
205 |
↔0 |
||
Handan |
1,400 |
213 |
↔0 |
||
Nanchang |
1,350 |
205 |
↔0 |
||
Anyang |
1,300 |
198 |
↓50 |
||
Jinan |
1,450 |
221 |
↔0 |
||
Average |
1,374 |
209 |
↓7 |
The above prices include 17 percent VAT
$1 = RMB 6.57