During the given week, both traders and steelmakers have been happy to keep their sales or purchase prices for scrap unchanged due to the lack of any strong movements in finished steel prices. Since demand for finished steel seems unlikely to improve in the coming period and as upward movement of iron ore prices will also be limited, scrap prices will be negatively impacted. It is expected that scrap prices in the Chinese domestic market will move down slightly in the coming week.
Product Name |
Spec. |
Origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly Change (RMB/mt) |
HMS scrap |
> 6 mm |
Tianjin |
1,600 |
258 |
0 |
Liupanshui |
1,630 |
263 |
0 |
||
Zhangjiagang |
1,550 |
250 |
0 |
||
Handan |
1,600 |
258 |
0 |
||
Nanchang |
1,520 |
245 |
0 |
||
Anyang |
1,550 |
250 |
0 |
||
Jinan |
1,550 |
250 |
0 |
||
Average |
1,571 |
254 |
0 |
All prices include 17 percent VAT and all prices are ex-warehouse.
$1 = RMB 6.20