China: Shagang Steel hikes scrap purchase price again by $14/t

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China’s Shagang Steel has raised scrap buy prices for the third time this month by RMB 100/t ($14/t) for all grades, effective 15 Nov’22.
Post revision, HMS (6-10 mm) prices are at RMB 2,910/t ($413/t) delivered to headquarters, including 13% VAT.
To prevent ever-declining scrap supplies, the company continues to raise bid prices.

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