During the past week, scrap prices in the Chinese domestic market have mostly moved sideways, though the dollar-equivalent prices have increased due to the currency fluctuations.
In some regions of China, amid shrinking production activities, resulting in decreasing supplies to the spot market scrap, suppliers have increased their offers to some extent. With inventories of some steelmakers becoming scarce, scrap suppliers may gain some support. Nevertheless, with the Chinese New Year holiday closely approaching, demand for scrap is unlikely to be sustainable.
Average domestic HMS scrap prices in China are at RMB 2,766/mt ex-warehouse, edging up by RMB 13/mt compared to January 4, 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 |
2,750 |
406.7 |
0 |
10.9 |
|
Liupanshui,Guizhou |
2,680 |
396.4 |
0 |
10.7 |
||
|
Nanchang,Jiangxi |
2,780 |
411.2 |
0 |
11.1 |
||
|
Handan,Hebei |
2,750 |
406.7 |
20 |
13.8 |
||
|
Anyang,Henan |
2,780 |
411.2 |
30 |
15.4 |
||
|
Zhangjiagang,Jiangsu |
2,840 |
420.1 |
0 |
11.3 |
||
|
Jinan,Shandong |
2,780 |
411.2 |
40 |
16.8 |
||
|
Average |
2,766 |
409.1 |
13 |
12.9 |
||
|
Note: Prices include 3 percent VAT as of March 1 2022. |
||||||
The latest ex-Japan HS scrap indications have been heard at $415-420/mt CFR, moving sideways week on week.
$1 = RMB 6.7756