The company has reduced its purchasing prices for ferrous scrap by $7 per tonne.
As of April 26th, Shagang Steel Company's purchasing prices for ferrous scrap have been reduced by 50 RMB/tonne ($7/tonne) for all qualities.
Following the revision, the price per tonne has dropped to 2,870 RMB ($415/tonne).
After the revision, the price for HMS (6-10 mm) including delivery to the center has dropped to 2,870 RMB ($415/tonne) per tonne (including 13% VAT).
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