China: Shagang Steel announces third scrap purchase price cut for Aug’21

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China’s largest EAF steelmaker Shagang Jiangsu Steel has announced a reduction in the scrap purchase price for the third time in Aug’21.
The steel producer has cut its scrap buying price by RMB 50/t ($8) for all grades effective from 19 Aug, sources informed.
After revision, the recent price for HMS (6-10 mm) stands at RMB 3,700/t ($570), inclusive of 13% VAT, delivered to headquarters.

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