What happened to the scrap market after induction furnace shutdowns?

What happened to the scrap market after induction furnace shutdowns?
When induction furnace mills, especially across Jiangsu, were shut down, not all scrap grades fell equally. Thick heavy scrap and plate offcuts favored by converters and electric furnaces held firm around 1,800-1,900 yuan per tonne including tax, while silicon steel sheet, light scrap, rebar briquettes and turnings linked to induction furnaces slumped, with some grades unsellable. In Jiaxing, the spread between plate offcuts and Fujian-grade material widened from near parity to roughly 100 yuan per tonne. Regional spreads also flipped: Jiangyin heavy scrap moved from a premium of nearly 200 yuan over Tianjin to a discount of about 100 yuan, pushing material northward by sea.