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

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China’s Shagang Steel has raised scrap procurement prices for the second time this week by RMB 50/t ($7/t) for all grades, effective 9 Dec’22.
Post-revision, HMS (6-10 mm) prices are at RMB 3,010/t ($433/t) delivered to headquarters, including 13% VAT.
Similarly, China’s rebars prices for Donghua and Hegang region increased by RMB 30/t w-o-w till yesterday.

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