China’s largest EAF steelmaker, Shagang Jiangsu Steel, has announced the first hike in scrap procurement price for the month on 19 Jul’21.
- The company has increased the scrap procurement price by RMB 80/t ($12) for all grades, effective from today.
- After the revision, the current price for HMS (6-10 mm) stands at RMB 3,850/t ($594), inclusive of 13% VAT, delivered to headquarters.
- Rising finished steel prices and lower scrap deliveries have resulted in steel mills increasing their scrap purchase prices.
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