Tag: China Shagang Steel scrap purchase price

China: Shagang Steel cuts scrap buying price by $15/t on bearish sentiments

Jun 20, 2022

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by

Deepika Singh

in Melting Scrap

China’s leading electric arc furnace (EAF) steelmaker, Jiangsu Shagang Group, has reduced its scrap purchase prices for the third time in June 2022 owing to sluggish domestic finished steel sales in the market. The steelmaker has cut its scrap procurement prices by RMB 100/tonne (t) ($15/t) for all grades with immediate effect, sources confirmed. The current…