Tag: Shagang steel scrap purchase prices

China’s largest electric arc furnace (EAF) steelmaker, Shagang Steel, reduced its scrap procurement prices on 16 May’21 by RMB 50/tonnes (t) ($8/t) for all grades. Currently, the company is paying  RMB 4,140/t ($643/t), inclusive of 13% VAT for HMS (6-10 mm), delivered to headquarter works at Zhangjiagang, north of Shanghai. Prices for other grades, such…