Tag: china shagang scrap prices

China’s Shagang Steel reduced ferrous scrap purchase prices by RMB 80/t ($12/t) for all grades, effective 24 Mar’23. After the revision, HMS (6-10 mm) prices are at RMB 3,120/t ($456/t), delivered to headquarters, including 13% VAT. The company continued trimming bids for the second time in a row this week amid weaker steel demand.