Author: Nishtha Mukherjee

China’s Shagang Jiangsu Steel has announced another reduction in its scrap procurement price in Nov’21 by RMB 50/t ($8) for all grades of ferrous scrap. After the revision, the price of HMS (6-10 mm) stands at RMB 3,520/t ($550), including 13% VAT. Impacted by a weak steel outlook, scrap demand of Jiangsu’s steel mills has…