China: Shagang Steel increases scrap procurement prices by $7/t

China’s leading steel mill, Shagang Steel, raised its scrap procurement prices by RMB 50/t ($7/t) across all grades on 28 Jul’25. Following this adjustment, prices of HMS (6-10 mm) stood at RMB 2,490/t ($347/t), up from RMB 2,440/t ($340/t) on 14 Jul’25, inclusive of 13% VAT, matching levels seen at the start of 2025.