Intel Details

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

Melting Scrap
15 Nov 2021, 12:28 IST
Steel Mint Intel

  • Leading Chinese steelmaker Shagang Jiangsu Steel has again reduced its scrap procurement price for the different grades by RMB 50/t ($8/t) today.
  • After the revision, the price of HMS (6-10mm) stands at RMB 3,370/t ($528/t), including 13% VAT.
  • Demand for scrap from steel mills has been impacted due to production restrictions and falling steel prices, SteelMint notes.

15 Nov 2021, 12:28 IST
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