China: Shagang Steel raises scrap procurement prices for first time in CY'25
China's leading steel mill, Shagang Steel, increased scrap procurement prices for the first time this year. Prices were raised by RMB 50/t ($7/t) across all grades from 25 Apr'25. Following the adjustment, HMS (6-10 mm) stood at RMB 2,390/t ($328/t), up from RMB 2,340/t ($321/t), inclusive of 13% VAT.