China’s Shagang Steel trims ferrous scrap buy prices by $4/t

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China’s Shagang Steel has cut ferrous scrap purchase prices by RMB 30/t ($4/t) for all grades, effective 21 Mar’23.
After the revision, HMS (6-10 mm) prices are at RMB 3,200/t ($465/t), delivered to headquarters, including 13% VAT.
The company has trimmed bids for the second time in a row amid weak steel demand.

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