- 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 3,370/t ($498/t) delivered to headquarters, including 13% VAT. Prices are effective from 17 Aug’22.
- Firm demand for finished steel with the resumption of production was the reason behind the hike in scrap procurement prices.
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