Eastern China’s largest private ferrous scrap consumer and EAF steelmaker- Shagang Jiangsu Steel group has continued to lower its domestic price for scrap procurement, cutting price by further RMB 130/MT (USD 18) today. This is the third consecutive week in a row since last week of Mar’20, that the scrap purchase price has continued to move down, falling by a total of RMB 310 /MT since 23rd March’20.
The new purchase price for all major grades of domestic scrap will be effective from today, 7th April’20. This is the lowest scrap purchase price since Mar’18 when it was recorded at the same level RMB 2250/MT.
The company has lowered its purchase price by RMB 130/MT (USD 18) to 2250/MT (USD) for HMS (6-10 mm thickness), inclusive of 13% VAT, delivering to headquarters works situated in Zhangjiagang north of Shanghai in China, in comparison with the last price revision to RMB 2,380/MT on 3rd April’20.
On the other hand, other higher grades including HMS (thickness not less than 20 mm) and HMS (10-20 mm thickness) stand at RMB 2,330/MT (USD) and RMB 2,290/MT (USD) respectively.
Leave a Reply