As of September 10, steel scrap prices in the Chinese domestic market have moved on an overall uptrend, while transaction activity in the overall market has been at low-to-medium levels. 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 |
2,870 |
405.1 |
+90 |
+12.7 |
|
Liupanshui,Guizhou |
2,620 |
369.8 |
+40 |
+5.6 |
||
|
Nanchang,Jiangxi |
2,520 |
355.7 |
+20 |
+2.8 |
||
|
Handan,Hebei |
2,760 |
389.6 |
+60 |
+8.5 |
||
|
Anyang,Henan |
2,645 |
373.4 |
+45 |
+6.4 |
||
|
Zhangjiagang,Jiangsu |
2,730 |
385.4 |
+150 |
+21.2 |
||
|
Jinan,Shandong |
2,780 |
392.4 |
+55 |
+7.8 |
||
|
Average |
2,704 |
381.6 |
+66 |
+9.3 |
All prices are ex-warehouse and include 13 percent VAT.
Chinese major steelmaker Shagang Group has increased its scrap purchasing prices by RMB 80/mt ($11.3/mt) as of September 10, exerting a positive impact on scrap market. Meanwhile, traders have been optimistic on the future prospects for the scrap market, unwilling to sell at current price levels as they expect higher prices. At the same time, finished steel prices have edged up, also positively affecting the demand for scrap. Local Chinese scrap market is expected to edge up in the coming week.
$1=RMB 7.085