China: Shagang Steel reduces scrap procurement prices by $4/t
China’s leading steel mill, Shagang Steel, has reduced its scrap procurement prices by RMB 30/t ($4/t) on 29 Dec’25. This marks the second price revision this month. Following this adjustment, prices of HMS (6-10 mm) are at RMB 2,330/t ($332/t), down from RMB 2,360/t ($337/t) on 12 Dec, inclusive of 13% VAT.
