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26 May

Chinese scrap slumps amid panic selling

China's steel scrap market faced panic selling amid the collapse of the steel market. Market shipments of scrap were growing rapidly as sellers accelerated sales to avoid losses. However, there is less demand support from the steel raw material side, and scrap steel prices are expected to remain weak in the short term. On Friday, Kallanish assessed 6mm+ heavy scrap delivered to mills in eastern China's Yangtze River Delta at CNY 2,…
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