Shagang makes first increase to scrap purchase price in four months

China’s biggest ferrous scrap consumer Shagang has raised its purchase price for the steelmaking raw material for the first time in four months.

The mill in eastern China, which is also the country’s largest privately owned steelmaker, is paying 1,550 yuan ($228) per tonne for heavy scrap above 6mm in thickness delivered to its facility from Sunday June 18 onwards. This is up 80 yuan ($12) per tonne from...

Published

July Zhang

June 19, 2017

12:23 GMT

Shanghai