Tag: Shagang steel scrap purchase prices
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Chinese domestic scrap prices rise sharply as mills raise bids
China’s largest EAF steelmaker- Shagang Steel has raised its first scrap purchase price today for May’21. The company has increased scrap purchase prices by RMB 80/t ($12) for all grades. This hike has been done in order to secure scrap volumes and was also influenced by the recent hike in imported scrap offers from Japan.…