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China: Shagang Steel cuts scrap purchase prices for third time in Aug’21

Aug 19, 2021

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by

Deepika Singh

in Melting Scrap

China’s largest electric-arc furnace (EAF) steelmaker, the Jiangsu Shagang Group, has slashed its scrap purchase prices for Aug’21 by up to RMB 50/tonne ($8/t) across all grades, sources informed SteelMint. This is the third price cut announced by the company in Aug’21. In the previous week, the company had lowered prices by similar levels. After…