Tag: China Shagang Steel scrap purchase price

China’s Shagang Steel has cut ferrous scrap purchase prices by RMB 30/t ($4/t) for all grades, effective 21 Mar’23. After the revision, HMS (6-10 mm) prices are at RMB 3,200/t ($465/t), delivered to headquarters, including 13% VAT. The company has trimmed bids for the second time in a row amid weak steel demand.