China: Shagang Steel raises scrap purchase price third time in May’21

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The leading steel enterprises in Jiangsu Province have hiked scrap purchase prices by RMB 100/t ($16) for all grades today.
Price indication for HMS (6-10 mm) stands at RMB 3,820 ($594), inclusive of 13% VAT, delivered to headquarters.
Higher finished steel prices amid a surge in futures and increase in imported scrap offers have resulted in hike in scrap purchase prices.

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