Average scrap prices in the Chinese domestic market have seen a slight downtrend in the past week.
Average domestic HMS scrap prices in China are at RMB 2,610/mt ex-warehouse, decreasing by RMB 10/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 |
2,660 |
374.0 |
-10 |
0.1 |
|
Liupanshui,Guizhou |
2,605 |
366.2 |
20 |
4.2 |
||
|
Nanchang,Jiangxi |
2,575 |
362.0 |
0 |
1.4 |
||
|
Handan,Hebei |
2,640 |
371.2 |
-20 |
-1.3 |
||
|
Anyang,Henan |
2,555 |
359.2 |
10 |
2.8 |
||
|
Zhangjiagang,Jiangsu |
2,650 |
372.6 |
-20 |
-1.3 |
||
|
Jinan,Shandong |
2,585 |
363.4 |
-50 |
-5.6 |
||
|
Average |
2,610 |
366.9 |
-10 |
0.0 |
||
|
Note: Prices include 3 percent VAT as of March 1 2022. |
||||||
During the given week, steel scrap prices have fluctuated within a limited range, with the average prices indicating a slight decline. Inventory of scrap has been at relatively high levels, weakening the support for prices. At the same time, rebar futures prices have seen a decreasing trend, also exerting a negative impact on scrap prices. It is thought that scrap prices in the Chinese domestic market will likely continue their fluctuating trend within a limited range in the coming week.
The latest tradable level for ex-Japan HS has remained at $375/mt CFR, while offers have been standing at close to $400/mt CFR.
$1 = RMB 7.1031