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:


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.

India: JSW Crude Steel Output Drop 5% in Apr’19

JSW Steel, India's largest private steel producer has released its monthly crude steel output results today for Apr’19. Company’s long steel, flat steel and crude steel output witnessed decline on monthly basis in Apr’19.

Daily Update: Indian Semis Offers Fall

Indian spot steel prices plunge further amid sluggish demand domestically, as stated by participants. The Rebar, Billet & Sponge iron prices fell by INR 100-300/MT (day on day) through the mid sized mills.

Daily Update: Indian Billet Prices Drop on Limited Inquiries

Indian Steel prices further drop owing to limited trade activities, as reported by participants. The prices on daily assessment fell by INR 100-600/MT through the mid sized mills.

Daily Update: Indian Sponge & Billet Prices Decline on Demand Concern

Participants reported less inquiries from the re-rollers end resulted gradual decline in Billet & Sponge iron prices by INR 100-300/MT day on day in major markets.
Upcoming Events
 Mines & Metals

Mine & Business Today

 Scrap & Recycling


Our partners