China’s largest EAF steelmaker- Shagang group has increases scrap purchase price by RMB 100/t ($15) for all grades. The price for HMS (6-10 mm) now stands at RMB 2,890/t ($434), inclusive of 13% VAT, delivered to headquarters. Winter restocking and steel mill’s plan to start the re-stocking in December have pushed up scrap prices.
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