China: Shagang Steel lifts scrap buy prices by $15/t after more than 3-months gap

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China’s Shagang Steel has announced scrap purchase price hike by RMB 100/t ($15/t) for all grades after a gap of more than three months. Prices are effective from 1 Aug’22.
After the revision, HMS (6-10mm) prices are at RMB 2,770/t ($411/t) delivered to headquarters, including 13% VAT.
The company has increased scrap buy prices owing to improved finished steel demand and sales in the country.

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