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:


Daily Update: Indian Semis Offers Rise Further

Indian steel prices remain slightly surge by INR 100-400/MT on improved inquiries from the domestic buyers. The mid sized mills have raised Billet prices by INR 100-400/MT, Rebar by INR 100-300/MT & Sponge iron by INR 100-200/MT day on day in major markets.

Daily Update: Indian Semis Offers Rise

Indian spot steel prices sharply surge by INR 300-600/MT in a day on improved demand in finished steel products amid positive outlook. The sources have reported better response from the stockiest & end user segment.

China Steel Market Highlights - Week 20, 2019

This week Chinese steel prices softened amid deprecation of nation’s currency Yuan against USD. Meanwhile USA govt imposed tariffs of 25% on $200 billion worth of Chinese imports. This resulted to pessimistic market sentiments and in turn weakened export offers from China.

Global Ferrous Scrap Market Overview - Week 20, 2019

Global scrap prices witnessed mixed trends this week. Prices continued downtrend following low demand in most of the markets except, Turkey. Following lowering of tariffs from earlier 50% to 25% on Turkey steel products by the US government, recovery in global scrap prices is expected in the upcoming days.

Vietnam Ferrous Scrap Imports Hit 7 Year High in Apr'19

Vietnam, one of the leading ferrous scrap importers in East Asia has witnessed record high imports in Apr'19 on sharp growth in imports recorded from US & Australia.

Global Ferrous Scrap Market Overview - Week 19, 2019

Global scrap prices witnessed an overall downward trend this week. Turkey-based importers turned active towards week close pulling prices down.
Upcoming Events
 Mines & Metals

Mine & Business Today

 Scrap & Recycling


Our partners