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

Gangya Metal215 people have read

Shagang, headquartered in Zhangjiagang, East China's Jiangsu, has reduced its steel scrap purchase costs for five times by a total amount of Yuan 280-300/ t over October 12-21, Mysteel Global kept in mind. And also today's cut has reduced Shagang's purchasing rate of domestically-produced HMS quality scrap to Yuan 2,810-2,870/ t consisting of the shipment and also the 13%.

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Shagang Group (Shagang), China's leading electric-arc-furnace (EAF) steel producer, has yet to end its frequent steel scrap price cuts that now have been introduced every other day as it has just trimmed another Yuan 50/tonne ($6.9/t) off its steel s...

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