- China’s ferrous scrap import market saw deals drying up from Japan, as per latest updates received by SteelMint.
- Bids from Chinese buyers for HRS101 grade scrap is at $520/t CFR. However, the offers are at $575-580/t CFR.
- Chinese buyers have kept away from booking Japanese material owing to dull demand on steel production cuts.
- Scrap utilisation by EAF mills has been trending down for last three months.
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