I Review of Steel Scrap Market

Scrap: From Monday to Thursday this week (March 18-21), the domestic scrap prices declined as a whole. On March 21, SteelHome’s HMS Price Index was 2816 yuan/ton, down by 48 yuan/ton compared to March 15. The purchase price of 6-10mm HMS of the leading steel mills in Jiangsu Province, East China, declined by 50 to 2850 yuan/ton. The scrap intakes of the leading steel mills increased.

Table 1: Change of scrap price in main domestic markets (yuan/ton)

Source: SteelHome

II Review of Alloy Market

Ferrosilicon: The domestic price of ferrosilicon decreased in some markets from Monday to Thursday this week. On March 21, SteelHome's price index of ferrosilicon was 6361 yuan/ton, down by 26 yuan/ton.The bidding price for ferrosilicon of Nangang for April is 6600 yuan/ton, including tax, delivered, down by 200 yuan/ton compared to the previous month's pricing. The prices of semi-coke in small size declined by 80-85 yuan/ton, resulting the decline of production costs.

Silicon-manganese: From Monday to Thursday this week, the domestic prices of silicon-manganese declined. On March 21, SteelHome’ silicon-manganese price index was 6079 yuan/ton. a decrease of 50 yuan/ton from last Friday. A silicon-manganese enterprise in Inner Mongolia has reduced production by 2 submerged arc furnace, resulting in a decrease of 400 tons in daily production. The reduction in production by the silicon manganese manufacturers are continuing.

Vanadium: From Monday to Thursday this week, the price of vanadium based alloys decreased by 3000-4000 yuan/ton. The bidding prices of some steel mills such were between 119,900 and 130,000 yuan/ton.

Molybdenum: From Monday to Thursday this week, the price of 60 ferro-molybdenum decreased by 4,000 yuan/ton, The bidding prices of some steel mills were between 217,000-220,000 yuan/ton. The prices of 45-47% molybdenum increased by 50 yuan/mtdu.

Table 2: Price change of ferroalloy in main domestic markets (yuan/ton)

Source: SteelHome