Tag: scrap market update China

China: Shagang Steel raises scrap procurement prices by $7/t

May 14, 2026

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by

Ramavath Mounika

in Melting Scrap

China’s leading steelmaker Shagang Steel increased its scrap procurement prices by RMB 50/t ($7/t), effective 14 May 2026, marking its first price revision this month. Following the adjustment, HMS (6-10 mm) procurement prices rose to RMB 2,510/t ($370/t), compared to RMB 2,460/t ($363/t) on 30 March 2026, inclusive of 13% VAT.