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Shagang Steel has decreased its purchase prices for ferrous scrap

Chinese company Shagang Steel has lowered its purchase price for ferrous scrap twice this week due to weak demand in the domestic market.

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).

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