- China’s Shagang Steel has announced a hike of RMB 150/t ($22/t) in scrap purchase prices this week for all grades.
- After revision, HMS (6-10 mm) prices are at RMB 3,220/t ($474/t) delivered to headquarters, including 13% VAT. Prices are effective from 16 Aug’22.
- Improved finished steel demand and sales are the reason behind the hike in scrap procurement prices by the company.
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