Tag: China: Shagang Steel cuts scrap purchase prices by $4/t

Shagang Steel, a prominent steel mill in China, has reportedly decreased procurement prices for ferrous scrap across all grades by RMB 30/t ($4/t), effective from 11 Mar’24. The revised price stands at RMB 2,920/t ($406/t) for HMS (6-10 mm), inclusive of 13% VAT. This marks the second consecutive price reduction this month.