IRON and STEEL   Scrap & Recycling  

China: Shagang Steel Cuts Scrap Purchase Price by USD 9

Eastern China’s largest ferrous scrap consumer - Shagang Jiangsu Steel group has slashed scrap purchase price today by RMB 60/MT (USD 9). Amid sharply falling finish steel export prices steelmaker has reduced scrap prices.

As per reports, Shagang is paying RMB 2,420/MT (USD 348) inclusive of 16% VAT for HMS (6-10 mm thickness) delivered to headquarter works situated in Zhangjiagang province in China, down RMB 60/MT as against last report of RMB 2,480/MT on 27th Nov’18.

In line with this, the prices for other grades of scrap also have come down by RMB 50-60/MT in last revision. It is paying RMB 2,520/MT (USD 363) for HMS 1 (thickness not less than 20 mm) while around RMB 2,320/MT and RMB 2,190/MT for melting scrap 4-6 mm & 2-4 mm thickness respectively. New prices stand at RMB 2,540/MT for charging scrap 1 and RMB 2,470/MT for HMS 2 (6-10 mm) inclusive of 16% VAT.

Domestic scrap prices tumble further in the major provinces - Following Shagang’s lead, leading scrap consumers like Maanshan, Zenith, Nanjing and Xingcheng steel reduced scrap purchase prices by RMB 50-60/MT in eastern China.

China's domestic rebar prices rebound, export offers fall - Recent Rebar prices in eastern China reported at RMB 3,800-3,830/MT (USD 547-551),ex- Shanghai, up RMB 30-70/MT from RMB 3,730-3,780/MT reported last. while export offers assessed at USD 490-500/MT, FoB China, down USD 20/MT in past two days.

Shagang Steel is one of the leading steelmakers in China and with an annual production capacity of 31.9 MnT iron, 39.2 MnT steel and 37.2 MnT rolled products.

News No: 2776
Date: 2018/12/01 - 23:49
News Source: SteelMint

Shagang Jiangsu Steel group  finish steel  ferrous scrap  rebar 


Leave a Comment:


Global Ferrous Scrap Market Overview - Week 3, 2019

This week observed mixed trends in global scrap markets with Turkey scrap prices surprisingly jumped in recent deals while Asian scrap prices continued a downward correction. South Korean steel mills booked another 3-4 bulk cargoes from the US and Japan again this week.

Hesteel buys stake in Tata's southeast Asia unit

China's state-controlled Hesteel group has taken a 70pc stake in Indian producer Tata Steel's southeast Asian steel business for $327mn.

Canada: Ferrous Scrap Exports Down 22% in Nov'18

Canada - world’s one of the major scrap exporters witnessed considerable fall in scrap exports in Nov'18 majorly on the lowered purchases from Turkey and major Asian importers like Taiwan, Vietnam and India.

China's Shagang Steel Lifts Scrap Purchase Price by USD 12

Eastern China’s largest ferrous scrap consumer and EAF steelmaker - Shagang Jiangsu Steel group has raised steel scrap purchase prices by RMB 80/MT (USD 12) effective from yesterday.

Russia mulls ferrous scrap export ban

Russia's economy ministry will evaluate the possibility of a temporary ban on ferrous scrap exports following a complaint submitted by the country's steel pipemakers in late December.

Global Ferrous Scrap Market Overview - Week 2, 2019

This week observed strengthening of demand both in Turkey and Asian markets on limited inventories available.
Upcoming Events
 Mines & Metals

Mine & Business Today

 Scrap & Recycling


Our partners