Tag: china shagang scrap prices

China: Shagang hikes scrap purchase bids to boost supplies, prices hit over 2-month high

Jan 7, 2022

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by

Drishya Yadav

in Melting Scrap

China’s leading electric arc furnace (EAF) steelmaker, Jiangsu Shagang Group, raised its scrap purchase prices by RMB 100/tonne (t) ($16/t) on 07 Jan’22. Notably, this is the first hike in Jan’22. Current prices of HMS (6-10 mm) stand at RMB 3,690/t ($579/t), including 13% VAT, delivered to headquarters. With this, the company’s scrap purchase bids…