Tag: China Shagang Steel scrap purchase price

China’s Shagang Steel has announced a sharp correction in scrap purchase prices by RMB 150/t ($22/t) for all grades, effective 12 July. After the revision, prices of HMS (6-10mm) are at RMB 3,100/t ($463/t) delivered to headquarters, including 13% VAT. The company has trimmed scrap procurement prices owing to off-season demand and sluggish domestic finished…