Tag: China: Shagang Steel raises scrap purchase prices by $7/t

Shagang Steel has recently announced an upward adjustment in the purchasing prices of ferrous scrap across grades, with effect from 8 May’24. The updated prices show an increase of RMB 50/t ($7/t). The revised prices of HMS (6-10 mm) stand at RMB 2,830/t ($392/t), including 13% VAT. This adjustment marks the initial uptick in purchase…