Tag: scrap procurement prices

China’s leading steel mill, Shagang Steel, reduced scrap procurement prices by RMB 30/t ($4/t) for all grades from 7 Jan’25, with HMS (6-10 mm) now at RMB 2,450/t ($334/t), including 13% VAT. Notably, this marks the company’s third consecutive price cut in Jan. As the Chinese New Year (28 Jan-4 Feb) approaches, domestic steelmakers are…