Tag: China Shagang Steel scrap purchase price

China’s electric arc furnace (EAF) steelmaker Jiangsu Shagang Group’s scrap purchase prices fell to almost a 2-year low since October 2020. After rebar futures plunged, the sales of finished products are stagnant, and mills are facing serious losses. Therefore, to control the loss, the company has cut steel scrap buy prices. The steelmaker has cut…