China: Shagang Steel trims scrap buy prices by $11/t

  • China’s Shagang Steel has announced a price cut of RMB 80/t ($11/t) for the purchase of all grades of scrap for the second time this week effective from 12 Oct.
  • Post-revision, HMS (6-10 mm) prices are at RMB 3,010/t ($420/t) delivered to headquarters, including 13% VAT.

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