Tag: Shagang Jiangsu cuts scrap prices

China’s Shagang Steel has increased scrap purchase prices by RMB 50/t ($7/t) for all grades, effective 21 Feb’23. This is the second hike in this month. After the revision, HMS (6-10 mm) prices are at RMB 3,200/t ($466/t) delivered to headquarters, including 13% VAT.