Shagang Steel has decreased its purchase prices for ferrous scrap

The company has reduced its purchasing prices for ferrous scrap by $7 per tonne.

As of April 26th, Shagang Steel Company's purchasing prices for ferrous scrap have been reduced by 50 RMB/tonne ($7/tonne) for all qualities.

Following the revision, the price per tonne has dropped to 2,870 RMB ($415/tonne).

After the revision, the price for HMS (6-10 mm) including delivery to the center has dropped to 2,870 RMB ($415/tonne) per tonne (including 13% VAT).