Tag: china shagang scrap prices

China’s leading electric arc furnace (EAF) steelmaker, the Jiangsu Shagang Group, raised its scrap purchase prices by $16/t today. Notably, this is the first hike after a total of 10 continuous price cuts post-12 Oct’21. This price rise is due to the tight availability of scrap. Secondly, there is a sudden rise in demand for…