Tag: China Scrap purchase prices
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China: Shagang Steel Cuts Scrap Purchase Prices Further by USD 5/MT
Following weakening finish steel prices, Chinese steelmakers have cut domestic scrap prices twice in the last couple of days. One of the largest ferrous scrap consumers in China, Shagang Jiangsu Steel group has reduced its scrap buying price by Chinese Yuan 30/MT (USD 5) recently. As per latest price updates received, Shagang is now paying RMB 2,490/MT (USD 394) inclusive…