Tag: China Shagang Steel scrap purchase price

China’s Shagang Jiangsu Steel has announced the second reduction in scrap procurement prices this week by RMB 80/t ($13/t) for all grades from 19 Nov’21. After the revision, the price of HMS (6-10mm) stands at RMB 3,240/t ($507/t), including 13% VAT, delivered to headquarters. Bearish steel market sentiments and piling up of inventories at mills…