- China’s Shagang Steel has announced its third scrap purchase price cut in a row by RMB 80/t ($12/t) for all grades, effective 14 July.
- After the revision, prices of HMS (6-10mm) are at RMB 2,920/t ($434/t) delivered to headquarters, including 13% VAT.
- The company has trimmed scrap buy prices owing to sluggish domestic finished steel demand and sales.
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