China: Shagang Steel lifts scrap procurement prices by $7/t
China's leading steel mill, Shagang Steel, has increased its scrap procurement prices by RMB 50/t ($7/t), effective 02 Feb'26. This marks the first price revision this month. Following this adjustment, prices of HMS (6-10 mm) were at RMB 2,430/t ($352/t), up from RMB 2,380/t ($345/t) on 12 Jan'26, inclusive of 13% VAT.