Major eastern Chinese mills cut scrap prices 8 dollars/mt

摘要

Domestic scrap prices have fallen further in China's eastern regions since Shagang Group in Jiangsu province cut its buying costs again by Yuan 50/mt (7.92 dollars) Tuesday. The latest reduction took Shagang's buying price for heavy melting scrap (over 6 mm thick) to Yuan 3,040/mt (480 dollars) including 17% VAT.