- China’s Shagang Steel has announced a price cut of RMB 50/t ($7/t) for the purchase of all grades of scrap, effective from 20 Oct.
- Post-revision, HMS (6-10 mm) prices are at RMB 2,860/t ($396/t) delivered to headquarters, including 13% VAT.
- Uncertainty about the recovery of steel demand in the market pushed scrap prices down.
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