- China’s Shagang Steel has announced a sharp correction in scrap purchase prices by RMB 150/t ($22/t) for all grades, effective 12 July.
- After the revision, prices of HMS (6-10mm) are at RMB 3,100/t ($463/t) delivered to headquarters, including 13% VAT.
- The company has trimmed scrap procurement prices owing to off-season demand and sluggish domestic finished steel sales.
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