Ferrous scrap purchasing prices remain stable in Eastern China

Published: Sep 14, 2015 16:52

Save

The steel mills in Eastern China region have announced little change to ferrous scrap purchasing prices.

By Paul Ploumis 14 Sep 2015 Last updated at 03:38:48 GMT

BEIJING (Scrap Monster): The steel mills in Eastern China region have announced little change to ferrous scrap purchasing prices. The purchasing prices remained stable primarily due to rising iron ore prices.

Jiangsu Shagang Group announced that scrap buying prices will remain unchanged. Post announcement, the purchasing price for heavy melting scrap with thickness 6mm and above by Shagang Group will continue at Yuan 1,330 per mt, inclusive of 17% value-added tax (VAT) delivered to Zhangjiagang. The company had cut the scrap prices by Yuan 40 per mt during end-August.

Yonggang Group in the same province also kept its scrap purchasing prices unchanged for deliveries to Zhangjiagang, Jiangsu province. Dongfang Special Steel too announced that purchasing price of heavy melting scrap of thickness 6 mm and above for deliveries to Changzhou will remain flat. Also, Anhui-based Maanshan Iron & Steel’s buy price for plate cut-offs with thickness 6mm and above for deliveries to Maanshan will continue to remain unchanged from the previous week.

According to mills in the region, ferrous scrap buying prices are likely to remain stable in the near future, mainly on account of rise in iron ore prices. Also, rebar prices have continued to remain stable in the region post Sep 3-5 holidays. The steel demand in the country is yet to report any significant improvement, mills added.

ferrous scrap purchasing prices China

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

16 hours ago

"Premier Li Qiang Leads State Council Meeting on Enhancing Effective Investment, Boosting Economic Growth"

Premier Li Qiang presided over an executive meeting of the State Council to study policy measures for promoting effective investment. The meeting noted that promoting effective investment plays an important role in stabilizing economic growth and strengthening momentum for development. It is necessary to innovate and improve policy measures, and intensify efforts to enhance the efficiency of utilizing funds such as central budget investments, ultra-long-term special treasury bonds, local government special bonds, and new-type policy-based financial instruments. In conjunction with formulating and implementing the 15th Five-Year Plan

16 hours ago

"Guided by Xi Jinping Thought, Implement 20th CPC Congress Spirit, Apply New Development Philosophy...

Guided by Xi Jinping Thought on Socialism with Chinese Characteristics for a New Era, we will thoroughly implement the spirit of the 20th National Congress of the Communist Party of China and the plenary sessions of the Party’s 20th Central Committee, fully and faithfully apply the new development philosophy, strengthen top-level design, build computing power interconnection nodes oriented toward national hub periods, major strategic regions, and key industries, establish a system of computing power interconnection nodes, improve the efficiency and service level of public computing power resources, and promote high-quality development of computing power.

16 hours ago

Indirect Iran-US Nuclear Talks in Muscat Show Progress, Omani FM Mediates Tense but Efficient Discussions

After intensive indirect consultations, the new round of nuclear talks between Iran and the US in Muscat, the capital of Oman, has achieved phased progress. It is reported that during this round of talks, the Iranian and US delegations did not meet directly. Instead, Omani Foreign Minister Badr acted as an intermediary, conveying a series of core proposals, strategic concerns, and policy positions to the other side. The atmosphere at the talks was tense yet efficient. According to preliminary on-site assessments, although both sides continue to negotiate over specific terms, they have reached a consensus on the key objective of "continuing dialogue."

16 hours ago