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14 Oct

Chinese scrap declines on mill cuts

The Chinese scrap market saw prices fall last week, with Shagang in particular cutting its buying prices twice in a row last week, leading the downtrend. On Friday, Kallanish assessed 6mm+ heavy scrap delivered to mills in eastern China's Yangtze River Delta at CNY 2,914/tonne ($405/t), including VAT. This is CNY 37/t lower from Thursday and CNY 172/t down compared with the trading price before China's October holiday. Kallan…
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