Chinese steel scrap prices stable
2023-03-09 08:30:25 [Print]
BEIJING (Asian Metal) 9 Mar 23 - Chinese steel scrap prices remain flat this week upon steady demand and supply. On Wednesday the mainstream prices of steel scrap HMS 6mm stood at RMB3,000-3,050/t (USD430-437/t) Ex-VAT delivered D/P, similar to late last week. As there are not big changes for steel prices, insiders predict steel scrap prices would level off in following days of this week.
A steel mill in Jiangsu revealed that their purchasing price for steel scrap HMS 6mm hovered at RMB3,020/t (USD433/t) Ex-VAT delivered D/P on Wednesday, the same as late last week. "We last bought around 200t of the material at RMB3,020/t last Saturday," he said, adding that they have stocks of steel scrap to use for 25 days, similar to one week ago. Upon steady supply and demand, he predicts steel scrap prices would stabilize in coming days of this week.
The steel mill owns an annual consumption capacity of 750,000t for steel scrap and recorded a consumption amount of approximately 680,000t in 2022. It plans to use nearly 60,000t of steel scrap in March, up from 55,000t in February.
A trader in Guangdong reported that he sold nearly 100t of steel scrap HMS 6mm at RMB3,050/t (USD438/t) Ex-VAT delivered D/P on Wednesday and did not change the price this week. "I last sold about 60t of the material at RMB3,050/t (USD438/t) last Sunday," he said, adding that steel prices went up and down but did not show big changes in past several days. At present he has a stock of around 1,500t, in line with one week ago. Upon both of the stable supply and demand, he is of the opinion that steel scrap prices would remain flat in coming days of this week.
With a sales amount of almost 20,000t in 2022, the company estimated the sales volume would reach nearly 1,000t in March, in line with February.
A steel mill in Jiangsu revealed that their purchasing price for steel scrap HMS 6mm hovered at RMB3,020/t (USD433/t) Ex-VAT delivered D/P on Wednesday, the same as late last week. "We last bought around 200t of the material at RMB3,020/t last Saturday," he said, adding that they have stocks of steel scrap to use for 25 days, similar to one week ago. Upon steady supply and demand, he predicts steel scrap prices would stabilize in coming days of this week.
The steel mill owns an annual consumption capacity of 750,000t for steel scrap and recorded a consumption amount of approximately 680,000t in 2022. It plans to use nearly 60,000t of steel scrap in March, up from 55,000t in February.
A trader in Guangdong reported that he sold nearly 100t of steel scrap HMS 6mm at RMB3,050/t (USD438/t) Ex-VAT delivered D/P on Wednesday and did not change the price this week. "I last sold about 60t of the material at RMB3,050/t (USD438/t) last Sunday," he said, adding that steel prices went up and down but did not show big changes in past several days. At present he has a stock of around 1,500t, in line with one week ago. Upon both of the stable supply and demand, he is of the opinion that steel scrap prices would remain flat in coming days of this week.
With a sales amount of almost 20,000t in 2022, the company estimated the sales volume would reach nearly 1,000t in March, in line with February.
