China’s Shagang Group increases scrap purchase price by RMB 80 ($12)

China’s largest EAF steelmaker- Shagang Steel has hiked its scrap purchase price by RMB 80/t ($12) for all grades today, credible sources reported to SteelMint. Current price for HMS (6-10 mm) stands at RMB 3,020/t ($461), inclusive of 13% VAT, delivered to headquarters. Limited scrap supply has lifted scrap purchase price.