It is reported that China cancelled tax rebate on waste and outdated materials from New Year. What’s more, supply becomes tighter and tighter as usual in winter and domestic scrap joins new round of price rise.
At present, the mainstream purchase price of charging-quality scrap reaches CNY 3380 per tonne to CNY 3400 per tonne in the east while it has already touched CNY 3500 per tonne in the northeast. The prices are expected to go up further in future. In the meantime, HMS 1&2 MIX (80:20) from America is quoted at USD 450 per tonne to USD 455 per tonne CFR and European container-shipped shredded scrap is quoted at USD 470 per tonne to USD 475 PER tonne CFR.
The quotations of bulk American HMS 1&2 MIX prevail at USD 460 per tonne to USD 470 per tonne CFR while that of the European bulk shredded goes at USD 480 per tonne to USD 490 per tonne CFR.