- Leading Chinese steelmaker Shagang Jiangsu Steel has again reduced its scrap procurement price for the different grades by RMB 50/t ($8/t) today.
- After the revision, the price of HMS (6-10mm) stands at RMB 3,370/t ($528/t), including 13% VAT.
- Demand for scrap from steel mills has been impacted due to production restrictions and falling steel prices, SteelMint notes.
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