Tag: China Shagang Steel scrap purchase price

China’s Shagang Steel has announced a price cut of RMB 100/t ($14/t) for the purchase of all grades of scrap, effective from 28 Oct. Post-revision, HMS (6-10 mm) prices are at RMB 2,710/t ($379/t) delivered to headquarters, including 13% VAT. Continuous falling of finished steel prices resulted in a significant fall of domestic scrap.