- Leading Chinese EAF mill Shagang Jiangsu Steel has announced a further reduction in its scrap procurement price for all the different grades by RMB 50/t ($8) for Nov’21 deliveries.
- After the revision, the price of HMS (6-10mm) stands at RMB 3,470/t ($542), including 13% VAT.
- The scrap demand of mills has been impacted by steel production curbs and a weak outlook, SteelMint notes.
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