Eastern China’s largest private ferrous scrap consumer and EAF steelmaker – Shagang Jiangsu Steel group has announced another price cut for all grades of domestic steel scrap procurement, by RMB 30/MT (USD 4) effective from today, 9th Dec’19.
After the said price cut, Shagang Steel will now pay RMB 2,700/MT (USD 384) 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 2,730/MT on 29th Nov’19. While other higher grades including HMS (thickness not less than 20 mm) and HMS (10-20 mm thickness) stand at RMB 2,780/MT (USD 395) and RMB 2,740/MT (USD 389) respectively.
This is the first price cut in Dec’19 after six price revisions were observed by the company a month back in Nov’19.
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