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18 Nov

China's scrap prices rebound despite weak demand

Chinese scrap prices rose early last week following the strength of the steel market, but a decline in futures later last week reduced the price gains. On Friday, Kallanish assessed 6mm+ heavy scrap delivered to mills in eastern China's Yangtze River Delta at CNY 2,852/tonne ($400/t), including VAT. This is CNY 7/t lower from Thursday but up CNY 77/t compared with the previous Friday. Data from information provider Fuba…
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