Tag: Shagang Steel Rebar Prices

Following weakening finish steel prices, Chinese steelmakers have recently cut domestic scrap prices slightly. One of the largest ferrous scrap consumers in China, Shagang Jiangsu Steel group has reduced its scrap buying price by Chinese RMB 30/MT (USD 5) recently. As per latest price updates received, Shagang is now paying RMB 2,520/MT (USD 398) inclusive of 17% VAT for heavy…