China: Shagang Steel lifts scrap purchase prices by $15/t

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China’s Shagang Steel has announced a hike in scrap purchase prices by RMB 100/t ($15/t) for all grades after a week’s gap.
After the revision, HMS (6-10mm) prices are at RMB 2,870/t ($426/t) delivered to headquarters, including 13% VAT. Prices are effective from 8 Aug’22.
The company has raised scrap buy prices due to improved finished steel demand and sales.

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