China: Shagang Steel increases scrap procurement prices by $7/t
China's leading steel mill, Shagang Steel, raised its scrap procurement prices by RMB 50/t ($7/t) across all grades on 14 Jul'25. Following this adjustment, prices of HMS (6-10 mm) stood at RMB 2,440/t ($340/t), up from RMB 2,390/t ($333/t) on 27 May'25, inclusive of 13% VAT, matching levels seen at the start of 2025.