During the week ending September 13, average prices of local steel scrap in the Chinese market have continued their stable trend, while transaction activity in the overall market has been at medium levels. Average scrap prices in China's main markets are presented in the table below.
During the given week, though the downtrend in finished steel and ferrous metal futures prices have exerted a negative impact on scrap market, scrap sellers have insisted on their prices due to the supply shortage of scrap resources. However, due to the approaching Mid-Autumn Day holiday (September 15-18) and the downward pressure from finished steel prices, scrap prices are expected to indicate a slight downtrend in the coming week.
Product Name |
Spec. |
Origin |
Price (RMB/mt) |
Price ($/mt) |
Weekly Change (RMB/mt) |
HMS scrap |
> 6 mm |
Tianjin |
1,650 |
247 |
0 |
Liupanshui |
1,580 |
237 |
0 |
||
Zhangjiagang |
1,680 |
251 |
0 |
||
Handan |
1,580 |
237 |
0 |
||
Nanchang |
1,600 |
240 |
0 |
||
Anyang |
1,570 |
235 |
0 |
||
Jinan |
1,670 |
250 |
0 |
||
Average |
1,619 |
242 |
0 |
The above prices include 17 percent VAT
$1 = RMB 6.68