China’s Shagang Steel has decreased its scrap purchase price by RMB 30/t ($4) for all grades, effective from today. The price for HMS (6-10 mm) stands at RMB 2,770/t ($405), inclusive of 13% VAT, delivered to headquarters. The decline in steel futures and maintenance shutdown at few of its furnace may be the reasons behind decline in scrap purchase price.
Leave a Reply