Tag: China: Shagang Steel further lowers scrap purchase prices by $7/t

China: Shagang Steel further lowers scrap purchase prices by $7/t

Mar 28, 2024

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by

Kanishka Chhabria

in Melting Scrap

Shagang Steel has revealed a downward adjustment in the purchasing rates for ferrous scrap across all classifications, starting 28 Mar’24. The updated rates show a decrease of RMB 50/t ($7/t). As a result, the revised prices for HMS (6-10 mm) stand at RMB 2,700/t ($374/t), including 13% VAT. This marks the sixth successive price reduction…