Shagang tables 4th cut in scrap buying prices by $7/t

Shagang Group (Shagang), the leading electric-arc-furnace (EAF) steelmaker headquartered in East China's Jiangsu province, has slashed its ferrous scrap purchase prices four times by a total of Yuan 160/tonne ($21.8/t) in just the first nine days of 2025, Mysteel Global learned.

The company announced its fourth reduction of Yuan 50/t on Thursday morning for all grades of steel scrap, effective immediately. After such adjustments, it is paying scrap dealers Yuan 2,400-2,460/t for domestically produced HMS grade scrap, including delivery to its plants, according to the announcement. Shagang's frequent price reductions are