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Shagang finally cuts scrap buying price, clips off $4.5/t

Gangya Metal110 people have read

After the adjustment,Shagang ispaying domestic scrap suppliers Yuan 2,620-2,720/t for HMS grade scrap ondelivery and including 16% VAT.“Shagang’s decision to slash its steelscrap buying price is within market expectations. It also reflects the recentsluggish demand in the finished-steel spot market,” a market source toldMysteel, adding that more likely, “the mill’s

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