Tag: Shagang steel scrap purchase prices

China’s Shagang Steel has reduced scrap buying price for the second consecutive day by RMB 80/t ($12/t) for all grades today. Price for HMS (6-10 mm) now stands at RMB 4,060/t ($631/t), inclusive of 13% VAT, delivered to headquarters. The decline in domestic steel prices following drop-in futures resulted in a drop in domestic scrap…