UPDATE: Shagang reduces one more $7/t off scrap purchasing costs

With the most recent cut, Shagang has decreased its scrap procurement rates by a total amount of Yuan 230-250/ t given that October 12, and also currently is paying Yuan 2,860-2,920/ t for domestically-sourced HMS quality scrap in regards to shipment to the mill and consisting of the 13% BARREL. As anticipated, Shagang's announcement promptly affected place scrap

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