UPDATE: Shagang cuts one more $7/t off scrap costs

With the most up to date rate cut, the mill, headquartered in Zhangjiagang of East China's Jiangsu, is paying Yuan 2,960-3,020/ t for domestically-produced HMS quality steel scrap including both the distribution as well as the barrel, according to the company's announcement. As anticipated, Shagang's announcement rapidly impacted place scrap rates in Zhangjiagang, with the regional cost

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