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05 May

Chinese scrap drops despite lower supply

China's scrap market prices held steady during the Labour Day break, but fell sharply after returning from the holiday. On Friday, Kallanish assessed 6mm+ heavy scrap delivered to mills in eastern China's Yangtze River Delta at CNY 2,742/tonne ($396/t), including VAT. This is CNY 48/t lower from Thursday and CNY 56/t lower from the previous Friday. Data from information provider Fubao show that 49 independent electric arc furnace mills in C…
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