- China’s Shagang Steel has announced a cut of RMB 80/t ($12/t) in scrap purchase prices for all grades from yesterday’s bid.
- After revision, HMS (6-10 mm) prices are at RMB 3140/t ($456/t) delivered to headquarters, including 13% VAT.
- Prices fell due to dull demand for finished products. Meanwhile, mills have sufficient scrap stock lying with them, as per reliable sources.
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