China's Shagang Jiangsu Steel has announced a sharp hike in scrap procurement price for the first time in Dec'21, after continuous price cuts for two months.
The steel producer has raised its scrap buying price by RMB 100/t ($16/t) for all grades effective 13 Dec'21.
After the latest revision, the price of HMS (6-10mm) stands at RMB 3,340/t ($525/t) delivered to headquarters, including 13% VAT.
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