China: Shagang Steel raises scrap purchase prices by $11/t

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China’s Shagang steel has increased scrap buy prices for the first time this week by RMB 80/t ($11/t) for all grades, effective 30 Dec’22.
Post-revision, HMS(6-10 mm) prices are at RMB 3,120/t ($447/t) delivered to headquarters, including 13% VAT.
The company has increased prices to attract sellers for more deliveries.

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