China’s largest EAF steelmaker- Shagang group has hiked its scrap purchase price by RMB 50/t ($7) for all grades. The price for HMS (6-10 mm) now stands at RMB 2,790/t ($417), inclusive of 13% VAT, delivered to headquarters. Reduction of scrap suppliers’ shipment, the scrap arrival of steel mills decreased which resulted in increase in scrap prices.
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