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Chinese scrap prices hit a nearly two-year low last week and saw the biggest weekly drop on record. Shrinking demand has brought scrap recycling to a standstill. On Friday, Kallanish assessed 6mm+ heavy scrap delivered to mills in eastern China's Yangtze River Delta at CNY 2,663/tonne ($478/t), including VAT. This is down CNY 164/t from Thursday and CNY 543/t lower compared with the previous Friday. Data from information provider Fuba…
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