Intel Details

China: Shagang Steel slashes scrap purchase price by $8/t

Melting Scrap
5 Nov 2021, 18:33 IST
Steel Mint Intel

  • China's Shagang Jiangsu Steel has announced another reduction in its scrap procurement price in Nov'21 by RMB 50/t ($8) for all grades of ferrous scrap.
  • After the revision, the price of HMS (6-10 mm) stands at RMB 3,520/t ($550), including 13% VAT.
  • Impacted by a weak steel outlook, scrap demand of Jiangsu's steel mills has weakened, SteelMint notes.

5 Nov 2021, 18:33 IST
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