China: Shagang Steel raises scrap purchase prices by $8/t

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China’s Shagang Jiangsu Steel raised scrap procurement prices on the first day of Apr’22, sources informed.
The company raised prices by RMB 50/t ($8/t) for all grades effective 1 April.
After the revision, prices of HMS (6-10mm) are at RMB 3,970/t ($625/t) delivered to headquarters, including 13% VAT.

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