Shagang Group raises scrap purchase prices by $15/mt

Thursday, 05 November 2020 13:37:10 (GMT+3)   |   Shanghai

Jiangsu-based Shagang Group, China’s largest private steelmaker, has announced that as of November 5 it has raised its scrap purchase prices by RMB 100/mt (15/mt), signaling its bullish view of the future prospects for the market. Accordingly, Shagang’s heavy melting scrap price has risen to RMB 2,950/mt ($440/mt).

On October 30, Shagang Group had increased its scrap purchase prices by RMB 50/mt ($7.5/mt).

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