China’s Shagang Steel raises scrap purchase price by RMB 150 ($23)

China’s largest EAF steelmaker- Shagang steel hikes scrap purchase price by RMB 150/t ($23) for all grades, reliable sources reported to SteelMint. According to today’s revision scrap price for HMS (6-10 mm) stands at RMB 3,250/t ($501), inclusive of 13% VAT, delivered to headquarters. Shortage of scrap supply amid winters has boosted scrap purchase price.