Major scrap buyers in China's eastern regions have increased their prices over the past two days in a bid to attract deliveries, sources told Platts Steel Business Briefing Monday. However, it is unlikely prices will rise further in the short term. Jiangsu province's largest scrap consumer Shagang Group boosted its buying prices by Yuan 130/mt Sunday, taking its buying price for heavy melting scrap (thicker than 6mm) to Yuan 2,650/mt ($424/mt) on a delivered-to-mill basis including 17% VAT.
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