China’s largest EAF steelmaker- Shagang steel has cut its scrap purchase price for the second time in this week, reliable sources reported to SteelMint. Currently, the scrap price for HMS (6-10 mm) stands at RMB 3,190/t ($493), inclusive of 13% VAT, delivered to headquarters. The decline in domestic steel prices, imported scrap offer amid a plunge in futures has resulted in scrap purchase price cut.
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