Shagang makes second cut to scrap purchase price within days

China’s largest ferrous scrap consumer Shagang has trimmed its purchase price for the steelmaking raw material a second time in less than a week, amid a softening steel market.

The mill in east China, which is also the country’s biggest privately owned steelmaker, is paying 1,800 yuan ($274) per tonne for heavy scrap above 6mm in thickness delivered to its facility from Wednesday September 20 onwards.


July Zhang

September 20, 2017

08:00 GMT