Tag: China scrap stock
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China’s steel scrap stocks drop to near 6-month low
Stocks of ferrous scrap at the 61 Chinese blast furnace and electric-arc-furnace (EAF) makers under Mysteel’s regular survey dropped for a third week by another 188,600 tonnes or 10% on week to 1.69 million tonnes as of February 2, a new low since early August 2022. Propelling the decline was steelmakers’ firm demand at a…