Average scrap prices in the Chinese domestic market have moved up compared to the previous week.
Average domestic HMS scrap prices in China are at RMB 2,542/mt ex-warehouse, increasing by RMB 60/mt on average compared to the previous week, 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 scrap |
> 6 mm |
Tianjin |
2,605 |
367.2 |
30 |
4.5 |
|
|
|
Liupanshui,Guizhou |
2,450 |
345.4 |
20 |
3.1 |
|
|
|
Nanchang,Jiangxi |
2,440 |
344.0 |
20 |
3.1 |
|
|
|
Handan,Hebei |
2,595 |
365.8 |
10 |
1.7 |
|
|
|
Anyang,Henan |
2,510 |
353.8 |
120 |
17.2 |
|
|
|
Zhangjiagang,Jiangsu |
2,595 |
365.8 |
40 |
5.9 |
|
|
|
Jinan,Shandong |
2,600 |
366.5 |
180 |
25.6 |
|
|
|
Average |
2,542 |
358.4 |
60 |
8.7 |
|
Note: Prices include 3 percent VAT as of March 1 2022. |
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During the given week, scrap prices in the Chinese domestic market have indicated an uptrend amid tight supply. Some steelmakers have chosen to raise the purchases prices of scrap to attract increased supply, while market sentiment has also improved to a certain degree. Currently, inventory of scrap is at a relatively low level, which has bolstered prices. It is expected that scrap prices in the Chinese domestic market will likely edge up in the coming week, though the improvement in demand may need further observation.
The latest tradable level for ex-Japan HS scrap has moved from $345-350/mt CFR recorded on March 20 to $355-360/mt CFR.
$1 = RMB 7.0946