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Shagang cuts $14/t off scrap buying costs on bearish market

Gangya Metal89 people have read

Shagang, headquartered in Zhangjiagang, East China's Jiangsu district, has reduced its steel scrap procurement costs by a total amount of Yuan 380/t over October 12-28, Mysteel Global kept in mind. And also the most up to date cut has lowered Shagang's purchasing costs for locally generated HMS quality scrap to Yuan 2,710-2,770/ t including the shipment and the 13%.

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Shagang Group (Shagang), China's leading electric-arc-furnace (EAF) steel producer, has cut its steel scrap procurement prices for the sixth time this month, clipping off another Yuan 100/tonne ($13.9/t) effective from October 28, suggesting that the...

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