China’s Shagang Steel likely to raise scrap purchase price by RMB 100 ($15) – sources

China’s largest EAF steelmaker- Shagang Steel is likely to increase scrap purchase price on 26th Feb’21 by RMB 100/t ($15) for all grades, credible sources reported to SteelMint. The last price for HMS (6-10 mm) stood at RMB 3,190/t ($494), inclusive of 13% VAT, delivered to headquarters. Hike in global scrap prices along with improved semi-finished steel prices have supported scrap purchase price hike.