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10 May

Chinese scrap firms despite struggling market

China's scrap market strengthened last week, although the steel market saw subdued performance over the same period. On Friday, Kallanish assessed 6mm+ heavy scrap delivered to mills in eastern China's Yangtze River Delta at CNY 2,775/tonne ($384/t), including VAT. This is CNY 4/t lower from Thursday and up CNY 36/t from a week before. Data from information provider Fubao show that 49 independent electric arc furnace mills in China reported…
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