China: Shagang Steel raises scrap buying prices by $13/t after two-months gap

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China’s Jiangsu Shagang Group has announced a hike in scrap procurement prices for the first time in Mar’22, after a gap of two months.
The steel producer has raised prices by RMB 80/t ($13/t) for all grades, effective from 7 March.
After the revision, prices of HMS (6-10mm) stand at RMB 3,770/t ($596/t) delivered to headquarters, including 13% VAT.

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