Tag: Shagang steel scrap purchase prices
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China: Shagang Group slashes scrap purchase prices after three months
Eastern China’s largest EAF steelmaker- Shagang group has cut scrap purchase prices by RMB 30/t ($4) for all grades, effective from today (25th Jan’21). Limited buying ahead of holidays and decline in global scrap prices have had a dampening effect. Notably, this is company’s first price cut breaking a three-month sequence of constant uptrend in prices. The purchase price for HMS (6-10 mm) now stands at…