Tag: China Shagang Steel scrap purchase price

China’s leading electric arc furnace (EAF) steelmaker, Jiangsu Shagang Group, has reduced its scrap purchase prices towards the end of last week owing to bearish demand due to the off-season and sluggish domestic finished steel sales. Moreover, many steel mills are opting for maintenance shutdowns which has lowered output, as per SteelMint sources. The steelmaker…