Tag: Shagang steel scrap price

China: Shagang Steel reduces scrap buy prices by $7/t on high stocks

Aug 22, 2022

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by

Anshuman

in Melting Scrap

China’s leading electric arc furnace (EAF) steelmaker, Jiangsu Shagang Group, trimmed its scrap purchase prices again towards the end of last week. Prices fell due to a drop in end-user demand for finished steel and a rise in scrap availability with the mill. The steelmaker decreased scrap purchase prices by RMB 50/t($7/t) for all grades…