Tag: China: Shagang Steel cuts scrap procurement prices by up to $1-4/t

China’s leading steel mill, Shagang Steel, has decreased its scrap procurement prices by RMB 10-20/t ($1-4/t), effective 30 Mar’26. This marks the second price revision this month. Following this adjustment, prices of HMS (6-10 mm) were at RMB 2,450-2,470/t ($354-357/t), down from RMB 2,480/t ($359/t) on 10 Mar’26, inclusive of 13% VAT.