Tag: Shagang Jiangsu cuts scrap prices

China’s leading electric arc furnace (EAF) steelmaker, Jiangsu Shagang Group, cut its scrap purchase prices for the eighth time since end-Oct’21. The steel producer reduced its scrap procurement prices by RMB 50/tonne (t) ($8/t) for all grades with immediate effect, sources informed. Current prices of HMS (6-10 mm) stand at RMB 3,370/t ($528/t), including 13%…