SHANGHAI, Feb 28 (SMM) - The purchase prices of steel scrap declined in many places in China yesterday. Among them, the prices in east China dropped 20-30 yuan/mt, that in central China dropped 30-40 yuan/mt, that in southwest China dropped 20-30 yuan/mt and that in north China dropped 10-40 yuan/mt.
In the short term, steel mills’ demand for steel scrap increased as they produced actively amid considerable profits. As such, prices of steel scrap are likely to increase this week.
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