Shagang Steel's ferrous scrap purchase prices increased

China-based firm Shagang Steel has increased its ferrous scrap procurement offers per ton for all grades. increased their prices by RMB 50/ton ($7/ton).

HMS (6-10 mm) prices stand at RMB 2,980/ton ($415/t) including 13 percent VAT, delivered to the centre. It was also the first price increase made by Shagang Steel since the last discount announced on June 14, 2023.