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17 Nov

China's scrap rises on less supply

Chinese scrap prices saw continued gains last week but at a slower pace. Rising coke prices have increased the cost of pig iron steelmaking, encouraging steelmakers to consume more scrap. On Friday, Kallanish assessed 6mm+ heavy scrap delivered to mills in eastern China's Yangtze River Delta at CNY 2,834/tonne ($393/t), including VAT. This is unchanged from Thursday and up CNY 10/t from a week before. Data from information provider Fubao show t…
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