China: Shagang Steel hikes scrap procurement prices by $14/t

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China’s Shagang Steel has raised scrap buy prices after three weeks by RMB 100/t ($14/t) for all grades, effective from 8 Nov.
Post-revision, HMS (6-10 mm) prices stand at RMB 2,710/t ($375/t) delivered to headquarters, including 13% VAT.
To stock up for the winter season, the company has raised its bid prices.

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