China’s Shagang Steel has announced a price hike for all grades of domestic steel scrap procurement by RMB 30/t ($4) effective from today. The purchase price for HMS (6-10 mm) has now climbed up to RMB 2,750/t ($398), inclusive of 13% VAT, delivered to headquarters. Prices of scrap may remain at current high levels on tight availability, SteelMint learnt from sources.
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