Tag: China: Shagang Steel decreases scrap procurement prices by $7/t

China’s leading steel mill, Shagang Steel, reduced its scrap procurement prices by RMB 50/t ($7/t) across all grades on 2 Sep’25. This marks the first price cut this month. Following this adjustment, prices of HMS (6-10 mm) stood at RMB 2,410/t ($337/t), down from RMB 2,460/t ($344/t) on 19 Aug’25, inclusive of 13% VAT.