China: Shagang Steel lifts scrap purchase prices by $30/t

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China’s Shagang Steel has announced a second sharp increase in scrap purchase prices by RMB 200/t ($30/t) for all grades.
After the revision, HMS (6-10mm) prices are at RMB 3,070/t ($454/t) delivered to headquarters, including 13% VAT. Prices are effective from 10 Aug’22.
The company has raised scrap buy prices due to improved finished steel demand and sales.

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