Average scrap prices in the Chinese domestic market have remained almost stable compared to the prices recorded on June 12, but the outlook and general sentiments have remained bearish.
Average domestic HMS scrap prices in China are at RMB 2,514/mt ex-warehouse, edging up by RMB 13/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 |
2,615 |
367.5 |
0 |
-0.1 |
|
Liupanshui,Guizhou |
2,470 |
347.2 |
0 |
0.0 |
||
|
Nanchang,Jiangxi |
2,450 |
344.3 |
20 |
2.8 |
||
|
Handan,Hebei |
2,595 |
364.7 |
20 |
2.8 |
||
|
Anyang,Henan |
2,470 |
347.2 |
20 |
2.8 |
||
|
Zhangjiagang,Jiangsu |
2,525 |
354.9 |
10 |
1.4 |
||
|
Jinan,Shandong |
2,475 |
347.9 |
20 |
2.8 |
||
|
Average |
2,514 |
353.4 |
13 |
1.8 |
||
|
Note: Prices include 3 percent VAT as of March 1 2022. |
||||||
On June 12, Jiangsu-based Shagang Group announced a RMB 30/mt ($4.2/mt) decrease in its scrap purchase price, signaling cautious sentiments as regards to the future prospects of the scrap market, which exerted a negative impact on prices.
Scrap prices in the Chinese domestic market have seen decreases in the first part of the given week, though have indicated rises in the latter part of the given week, resulting in slight rises compared to the previous week. However, the offseason for steel industry negatively affected scrap prices. Following declines in coke prices, scrap prices may also see decreases in the near future. It is thought that scrap prices in the Chinese market will edge down in the coming week.
The latest tradable ex-Japan HS scrap prices were still at $350/mt CFR, but some sources said that $345/mt CFR will be more reasonable for buyers in the coming days.
$1 = RMB 7.1159