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 2,521/mt ex-warehouse, increasing by RMB 38/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 |
2,620 |
368.9 |
55 |
7.4 |
|
|
|
Liupanshui,Guizhou |
2,430 |
342.1 |
60 |
8.1 |
|
|
|
Nanchang,Jiangxi |
2,500 |
352.0 |
20 |
2.5 |
|
|
|
Handan,Hebei |
2,585 |
363.9 |
30 |
3.9 |
|
|
|
Anyang,Henan |
2,470 |
347.7 |
60 |
8.1 |
|
|
|
Zhangjiagang,Jiangsu |
2,575 |
362.5 |
20 |
2.5 |
|
|
|
Jinan,Shandong |
2,470 |
347.7 |
20 |
2.5 |
|
|
|
Average |
2,521 |
355.0 |
38 |
5.0 |
|
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 edged up slightly amid the relatively low deliveries arriving in the market. However, the recovery of demand for scrap has been limited as its price is less competitive for steelmakers compared to the use of melted iron. Jiangsu-based Shagang Group, China’s largest private steelmaker, raised its scrap purchase price by RMB 50/mt ($7/mt) on April 12, exerting a positive impact on the scrap market. It is thought that scrap prices in the Chinese domestic market will likely edge up in the coming week.
The latest ex-Japan HS scrap tradable prices have been heard at $355/CFR, moving up by $5/mt compared to April 10.
$1 = RMB 7.1025