China's Shagang raises ferrous scrap buying price second time in a week

Chemical News: China's Shagang raises ferrous scrap buying price second time in a week

https://www.chemnet.com Jun 23,2017 Platts
Jiangsu Shagang Group, China's biggest scrap user, raised its buying prices for ferrous scrap effective Thursday, its second increase in a week, a company source said.

After its Yuan 40/mt ($5.85/mt) increase, the mill will pay Yuan 1,590/mt ($233/mt), including 17% value added tax, delivered to Zhangjiagang, for heavy melting scrap with a minimum width of 6 mm, the source said.

Shagang's last adjustment was made Sunday in the form of a Yuan 80-100/mt increase to various scrap grades.

The company source said the increase was likely due to scrap supply being tighter.
Print | add to Favorites | Close