Ferrous scrap: Shagang Steel reduces purchase price by $15/t due to bearish sentiment

China's leading electric arc furnace (EAF) steelmaker, Jiangsu Shagang Group, reduced scrap purchase prices for the third time in June 2022 due to poor domestic sales of finished steel. Sources confirmed that the steel mill reduced scrap purchase prices by RMB 100/tonne ($15/tonne) for all types of steel with immediate effect. The current prices for […]