09
Aug
12:04
Shagang's price cuts lead to lower scrap prices
China's scrap market posted further losses last week, hit by Shagang's announcement of a CNY 60/t purchase price cut.
On Friday, Kallanish assessed 6mm+ heavy scrap delivered to mills in eastern China's Yangtze River Delta at CNY 2,487/tonne ($346/t), including VAT. This is CNY 33/t lower from Thursday and down CNY 65/t from a week before.
Data from information provider Fubao show that 49 independent electric arc furnace mills in China …
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Anonymous
Very good overview of the weekly steel market.
Anonymous