During the week ending September 8, local steel scrap prices in the Chinese market have been characterized by various trends, with rises and declines seen in different regions, though prices have remained stable in Jiangxi Province, while transaction activity in the overall market has been slightly better than in the previous week and is at decent levels. Average scrap prices in China's main markets are presented in the table below.
In the given week, since some steel mills in northern China have resumed production after the military parade held in Beijing, increasing scrap consumption in the northern China and exerting a positive impact on the local scrap market. Meanwhile, some traders have slightly increased their procurement prices in order to ensure sufficient inventory levels. Meanwhile, confidence has remained weak in the scrap markets in central and southeastern China, with scrap prices in these regions continuing their downward trend. At present, expectations for the steel market have weakened against the background of slowing economic growth in China. It is expected that scrap prices in China will indicate minor fluctuations in the coming week.
| Product Name | Spec. | Origin | Price (RMB/mt) | Price ($/mt) | Weekly Change (RMB/mt) |
| HMS scrap | > 6 mm | Tianjin | 1,400 | 220 | ↑20 |
| Liupanshui | 1,350 | 212 | ↓20 | ||
| Zhangjiagang | 1,400 | 220 | ↓20 | ||
| Handan | 1,380 | 217 | ↑30 | ||
| Nanchang | 1,350 | 212 | 0 | ||
| Anyang | 1,370 | 215 | ↑20 | ||
| Jinan | 1,400 | 220 | ↑20 | ||
| Average | 1,379 | 216 | ↑7 |
All prices include 17 percent VAT and all prices are ex-warehouse.
$1 = RMB 6.37