China’s leading steel mill, Shagang Steel, increased scrap procurement prices for the first time this year. Prices were raised by RMB 50/t ($7/t) across all grades from 25 Apr’25. Following the adjustment, HMS (6-10 mm) stood at RMB 2,390/t ($328/t), up from RMB 2,340/t ($321/t), inclusive of 13% VAT.
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