China’s largest EAF steelmaker – Shagang Steel has hiked scrap purchase price yesterday by RMB 50/t ($8) for all grades. The company is paying scrap, HMS (6-10 mm) at RMB 3,540/t ($545), inclusive of 13% VAT, delivered to headquarters. In order to secure more scrap supplies and hike in imported scrap offers have resulted in price increase.
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