During the week ending August 9, local steel scrap prices in the Chinese market have mostly indicated a rising trend, though prices have remained unchanged in Liupanshui and Anyang, while transaction activity in the overall market has improved somewhat, but still remains on the slack side. Average scrap prices in China's main markets are presented in the following table.
During the given week, domestic scrap prices have risen due to the upward trend of finished steel and semi-finished steel prices in China. Meanwhile, due to previous high temperatures and heavy rainfall, scrap supply has shrunk, providing support for scrap traders to increase their prices. It is thought that scrap prices in the Chinese domestic market will likely move up further in the coming week as bullish sentiment still prevails in the market.
Product Name |
Spec. |
Origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly Change (RMB/mt) |
HMS scrap |
> 6 mm |
Tianjin |
1,580 |
237 |
↑30 |
Liupanshui |
1,510 |
227 |
0 |
||
Zhangjiagang |
1,640 |
246 |
↑40 |
||
Handan |
1,580 |
237 |
↑30 |
||
Nanchang |
1,580 |
237 |
↑30 |
||
Anyang |
1,530 |
230 |
0 |
||
Jinan |
1,630 |
245 |
↑30 |
||
Average |
1,579 |
237 |
↑23 |
The above prices include 17 percent VAT
$1 = RMB 6.66