- Leading steel enterprises in Jiangsu Province have cut scrap procurement prices by RMB 100/t ($16) for all grades today.
- The current price indication for HMS (6-10 mm) stands at RMB 3,960/t ($615), inclusive of 13% VAT, delivered to headquarters.
- This is the company’s third price cut announced this week.
- A sharp drop in domestic steel prices amid plunging steel futures along with lower bids for imported scrap has kept bids for domestic scrap under pressure, SteelMint notes.
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