25
Oct
04:13
Shagang estimates 10-year high for scrap purchase volume
China’s Jiangsu Shagang Group, which produced 33.25 million tonnes of crude steel last year, estimates that this year its scrap purchase volume could reach 6mt, according to company information. Official data from the China Association of Metalscrap Utilisation (CAMU) shows in 2016 Shagang consumed around 3.5738mt of scrap. This was the highest among all domestic steel mills, Kallanish notes.
Shagang's announcement explains that since the sec…
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Anonymous
Very good overview of the weekly steel market.
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