Author: Deepika Singh

China: Scrap prices fall to 5-month low as Shagang cuts purchase prices by $13/t

Oct 28, 2021

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by

Deepika Singh

in Melting Scrap

China’s leading EAF steelmaker, Jiangsu Shagang Group, cut its scrap purchase prices today, 28 Oct’21. The steel producer reduced its scrap procurement prices by RMB 80/tonne (t) ($13/t) for all grades, with immediate effect, sources confirmed. With this cut, overall, scrap prices have hit a 5-month low. The same levels were last seen in end-May’21.…