- China’s Shagang Jiangsu Steel is planning to hike scrap procurement prices from 23 March, as per reliable sources.
- The steel producer can raise prices by RMB 100/t ($16/t) for all grades. Its last revision price of HMS (6-10mm) stands at RMB 3,770/t ($593/t) delivered to headquarters, including 13% VAT.
- The company decided to hike prices to maintain the supply of scrap steel amidst disruptions in logistics and transportation due to Covid resurgence.
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