Tag: Chinese scrap procurement

China’s leading steel mill, Shagang Steel, reduced its scrap procurement prices by RMB 30/t ($4/t) across all grades on 19 Aug’25. First price cut in August after a long standstill. Following this adjustment, prices of HMS (6-10 mm) stood at RMB 2,460/t ($343/t), down from RMB 2,490/t ($344/t) on 28 Jul’25, inclusive of 13% VAT.