- China’s Shagang Jiangsu Steel has announced its third reduction in scrap procurement price in Oct’21 by RMB 50/t ($8) for all grades.
- After the revision, the price of HMS (6-10 mm) stands at RMB 3,730/t ($584), including 13% VAT.
- Steel mills have sufficient scrap inventory and buyers are not currently active in the market, SteelMint learnt from sources.
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