Tag: China Shagang Steel scrap purchase price

China: Shagang Steel lowers scrap purchase prices by $8/t, sixth cut in a row

Nov 8, 2021

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by

Drishya Yadav

in Melting Scrap

China’s leading electric arc furnace (EAF) steelmaker, Jiangsu Shagang Group, cut its scrap purchase prices for the sixth time since 22 Oct’21. The steel producer reduced its scrap procurement prices by RMB 50/tonne (t) ($8/t) for all grades, with immediate effect, sources confirmed. With this cut, the current prices of HMS (6-10 mm) stand at…