Tag: China Shagang Steel scrap purchase price

China’s Shagang Steel has cut ferrous scrap purchase prices by RMB 50/t ($7/t) for all grades, effective 16 Mar’23. After the revision, HMS (6-10 mm) prices are at RMB 3,230/t ($470/t), delivered to headquarters, including 13% VAT. After two consecutive hikes in the last two weeks, the company has decreased prices considering weaker steel demand…