Author: Deepika Singh

China’s Shagang Jiangsu Steel lowered scrap procurement prices after a month’s gap, sources informed. The company reduced prices by RMB 50/t ($8/t) for all grades effective 10 May as against the last change effected on 7 Apr. After revision, prices of HMS (6-10mm) are at RMB 3,970/t ($593/t) delivered to headquarters, including 13% VAT.