Tag: china scrap import

China: Shagang cuts scrap purchase prices by $13/t on lower rebar futures, weak demand

Oct 22, 2021

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by

Drishya Yadav

in Melting Scrap

China’s largest EAF steelmaker, the Jiangsu Shagang Group, announced a cut in its scrap purchase prices on 22 Oct’21. The steel producer decreased its scrap procurement prices by RMB 80/tonne (t) ($13/t) for all grades, with immediate effect from 22 Oct’21, sources confirmed. This week, under the impact of the severe drop in finished steel…