China’s Shagang Group likely to hike scrap purchase price by RMB 80 ($12)

China’s largest EAF steelmaker- Shagang steel is likely to increase scrap purchase price on 6th Jan’21 by RMB 80/t ($12) for all grades, credible sources reported to SteelMint. Last price for HMS (6-10 mm) stood at RMB 3,020/t ($467), inclusive of 13% VAT, delivered to headquarters.