China’s Shagang Steel lifts ferrous scrap purchase prices

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China’s Shagang steel has increased scrap buy prices for the first time this month by RMB 80/t ($12/t) for all grades, effective 7 Feb’23.
After the revision, HMS(6-10 mm) prices are at RMB 3,200/t ($472/t) delivered to headquarters, including 13% VAT.
The company has increased prices after a month’s gap due to the CNY holidays.

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