Tag: Jiangsu Shagang Group

China’s leading electric arc furnace (EAF) steelmaker, Jiangsu Shagang Group, trimmed its scrap purchase prices for the first time this week. Prices fell due to uncertain economic performance and modest demand for finished products. Mills are having sufficient scrap stock maintained with them, as per sources. The steelmaker slashed scrap purchase prices by RMB 50/t($7/t)…