PRICING NOTICE: Proposal to launch new daily China import ferrous scrap price

Fastmarkets is proposing to launch a new daily China ferrous scrap import price assessment to enhance its growing editorial coverage of the Asian market for the steelmaking raw material.

The new assessment will be for heavy scrap classified under the Chinese standard HRS101. HRS101 is a grade of cut structural and plate scrap which – outside of China – fits under the category of plate and structural (P&S) or HS scrap in the Japanese market.

The price will be assessed on a cfr eastern China ports basis. Price points given for other ports in mainland China will be normalized to a cfr eastern China basis from information provided directly by active market participants.

Fastmarkets will not normalize price information for cargoes sold to any other market – such as Vietnam, South Korea or Taiwan – to arrive at an assessment for the cfr China price.

While it may take such information from data submitters as supplementary information, all assessments will be based directly on primary data gathered on a cfr China basis.

China is expected to be a regular importer of ferrous scrap due to its evolving steel industry. It is expected to continue to increase its ferrous scrap consumption in the steelmaking process.

Chinese annual scrap use could reach 330 million tonnes by 2030 and account for up to half of the country’s steel production, the China Association of Metal Scrap Utilization (Camu) said in 2019.

The new China scrap price will deliver more choices to subscribers and widen Fastmarkets’ coverage of the Asian scrap market.

The addition of the price – which will be published in line with International Organization of Securities Commissions (Iosco) standards and benchmark regulations – will reinforce Fastmarkets’ position as the leading global price reporting agency for Asia’s ferrous scrap market.

The proposed specifications for the price assessment are as follows:

Steel scrap, heavy recycled steel materials, cfr China, $/tonne
Quality: Cut structural and plate scrap, compliant with China scrap standard HRS101
Size: Minimum thickness of 6mm, minimum diameter of 10mm, length under 1,500mm, width under 600mm
Maximum unit weight: 1,500kg
Quantity: Minimum 2,000 tonnes (bulk)
Location: cfr eastern China ports (normalized for other Chinese mainland sea ports)
Timing: 3-10 weeks
Unit: $/tonne
Payment terms: Letter of credit on sight
Publication: Daily, 5-6pm Shanghai time

The consultation period for the proposed price assessment starts on Wednesday January 6 and will end on Friday February 5. The proposed changes, subject to market feedback, will be implemented on February 8.

To provide feedback on this price or if you would like to provide price information by becoming a data submitter to any of these prices, please contact Jessica Zong or Paul Lim by email at: pricing@fastmarkets.com. Please add the subject heading “FAO: Jessica Zong/Paul Lim, re: China scrap prices.”

To see all of Fastmarkets’ pricing methodology and specification documents, please go to www.metalbulletin.com/prices/pricing-methodology.html.

What to read next
Fastmarkets has concluded its annual industry consultation and will add new straight-length assessments for Eastern S-P-F #1&2 2x4 and 2x6 8’-16’ delivered Toronto. Fastmarkets will also assess an adder for Southern Yellow Pine #2 Prime 2x4, 2x6, and 2x8.
The last assessments for the LWC and MWC rotogravure grades will be published on July 17. The prices will be discontinued on August 21. The affected prices are: FP-GP-0027 LWC rotogravure reels 60-g, France, €/tonne FP-GP-0026 LWC rotogravure reels 60-g, Germany, €/tonne FP-GP-0083 LWC rotogravure reels 57-g, Germany, €/tonne FP-GP-0082 LWC rotogravure reels 54-g, Germany, €/tonne FP-GP-0086 MWC rotogravure reels […]
At Fastmarkets’ International Iron Ore & Green Steel Summit 2025, we expect topics such as iron ore pricing trends, green steel developments and growing demand for high-grade pellets to emerge. The event will address decarbonization, Europe’s green steel growth and shifts in scrap and pellet markets driven by supply and cost changes.
The prices affected are: FP-CTB-0001 Brazil Kraftliner 120-150 g/m2, FOB Mill FP-CTB-0002 Brazil White top liner 130-200 g/m2, FOB Mill FP-CTB-0003 Brazil Fluting 120 g/m2, FOB Mill FP-CTB-0004 Brazil Testliner 120-130 g/m2, FOB Mill FP-CTB-0005 Mexico Recycled Medium, 120-180 g (domestic) FP-CTB-0006 Mexico Recycled Linerboard, 130-180 g (domestic) Brazil Kraftliner 120-150 g/m2, FOB Mill; Brazil […]
This strategic launch is designed to offer the market a single reference price denoting the differential between hot-rolled steel products and the key benchmark scrap and raw materials composite in the production of those grades. The methodology grades for these differentials are as follows: MB-STE-0928 Steel hot-rolled coil index, differential to No1 busheling Chicago, fob mill […]
Due to the Eid -Al-Adha public holiday, which began on Thursday June 5 and will run through to Monday June 9 inclusive, these prices will be published instead on Tuesday June 10, in accordance with Fastmarkets’ policy. These prices are usually published weekly on Mondays. This change was not initially noted on Fastmarkets’ 2025 pricing […]