China: Shagang Steel reduces scrap procurement prices by $6/t
China's leading steel mill, Shagang Steel, reduced its scrap procurement prices by RMB 40/t ($6/t) on 24 Nov'25. This marks the third price revision of the month. Following this adjustment, prices of HMS (6-10 mm) stood at RMB 2,390/t ($336/t), down from RMB 2,430/t ($346/t) on 12 Nov'25, inclusive of 13% VAT.