- China’s Shagang Jiangsu Steel has announced the second cut in scrap procurement price in Oct’21 by RMB 80/t ($13) for all grades.
- After the revision, the price of HMS (6-10 mm) stands at RMB 3,780/t ($591), including 13% VAT.
- Under the pressure of a sharp fall in finished steel prices, most mills have slashed their scrap purchase prices, SteelMint notes.
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