After a sharp hike in scrap purchase price previous week, eastern China’s largest private ferrous scrap consumer and EAF steelmaker – Shagang Jiangsu Steel group has lowered its purchase price for all grades of domestic steel scrap procurement, by RMB 30/MT (USD 4), as the domestic market remains volatile. The new prices are effective from today, 27th November’19.
After the said price cut, Shagang Steel will now pay RMB 2,760/MT (USD 393) inclusive of 13% VAT for HMS (6-10 mm thickness) delivered to headquarters works situated in Zhangjiagang north of Shanghai in China, down by RMB 30/MT (USD 4) against the last report of RMB 2,790/MT on 22nd Nov’19. While other higher grades including HMS (thickness not less than 20 mm) and HMS (10-20 mm thickness) stand at RMB 2,840/MT (USD 404) and RMB 2,800/MT (USD 298) respectively.
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