Author: Kanishka Chhabria
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China ferrous scrap prices refresh 4-year low
Mysteel Global: Chinese steel scrap prices dropped significantly last week, pressured by the heavy pessimism in the market and the firm stance of domestic steelmakers to pare their buying prices lower, Mysteel’s latest survey showed. As of August 16, China’s composite steel scrap price had fallen by a large Yuan 192.1/tonne ($26.8/t) or 7.5% on…