Tag: RMB 2480/t scrap
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China: Shagang lowers scrap buy prices on seasonal demand slowdown
Shagang lowers scrap procurement prices by RMB 30/t Weak steel demand pressures scrap consumption outlook China’s largest steelmaker, Shagang Group, reduced its scrap purchase prices by RMB 30/t ($4/t) effective 24 June, with the benchmark heavy scrap grade revised to RMB 2,480/t ($365/t) from RMB 2,510/t ($369/t) previously. The price cut comes amid weakening steel…