- China’s largest EAF steelmaker, Shagang Jiangsu Steel, has announced the first reduction in scrap procurement price in Sep’21.
- The steelmaker has cut scrap purchase price by RMB 70/t ($11) for all grades from 17 Sep.
- Post-revision, the price of HMS (6-10 mm) stands at RMB 3,710/t ($575), including 13% VAT, delivered to headquarters.
- Due to steel production restrictions, scrap utilisation of mills has decreased.
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