Intel Details

China's Shagang Steel cuts scrap purchase further by $4

Melting Scrap
16 Sep 2020, 11:01 IST
Steel Mint Intel

China's Shagang Steel announced its second price cut in a span of two days for its scrap purchase price by RMB 30/t ($4) for all grades, effective from today. The price for HMS (6-10 mm) stands at RMB 2,740/t ($404), inclusive of 13% VAT, delivered to headquarters. The price trend of finished steel is weak resulting in drop in scrap prices.

16 Sep 2020, 11:01 IST
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