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

China’s leading steel mill, Shagang Steel, has increased its scrap procurement prices by RMB 50/t ($7/t), effective 13 Jan’26. This marks the first price revision this month. Following this adjustment, prices of HMS (6-10 mm) were at RMB 2,380/t ($341/t), up from RMB 2,330/t ($335/t) on 29 Dec, inclusive of 13% VAT.