China’s Shagang cuts ferrous scrap buying price by $5/mt

摘要

China’s largest ferrous scrapconsumer Jiangsu Shagang Group has cutits buying price for heavy melting scrap byYuan 30/mt ($5/mt) from Saturday, a companysource said Monday.As a result, Shagang will pay Yuan 2,370/mt($371/mt) including 17% value added tax, deliveredto Zhangjiagang, for heavy melting scrap with aminimum width of 6 mm, the source said.