Eastern China’s largest private ferrous scrap consumer and EAF steelmaker – Shagang Jiangsu Steel group is to raise steel scrap purchase prices for all grades by RMB 80/MT (USD 12) effective from tomorrow (12th Apr’19), SteelMint learned from its sources.
As per updates, Shagang Steel is paying RMB 2,620/MT (USD 390) inclusive of 13% VAT for HMS (6-10 mm thickness) delivered to headquarter works situated in Zhangjiagang north of Shanghai in China, up RMB 80/MT against the last report of RMB 2,540/MT on 01 Apr’19.
Prior to this, in the last price revision made on 01 Apr’19, the company lowered scrap prices by RMB 40/MT (USD 6).
Shagang Steel hikes rebar and wire rod prices for mid April –Today the steel maker has also raised finished steel prices. Shagang is selling HRB400 16-25 mm dia rebar at RMB 4,200/MT (USD 625) over the end March period, up RMB 150/MT against the last set of prices for end-Mar’19 shipments. The company has raised prices on decent downstream demand.
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