Shagang to halve contracted rebar sales volume in Mar
Feb 26, 2020 16:30
See Full-size Table Here
Shagang Group, China’s largest privately-owned steel mill, has decided to cut the volume of rebars it requires its sales agents to receive each month to 50% of the contracted volumes in March, market sources confirmed on Wednesday. They interpreted the move as Shagang taking “special care” of its long-term contracted customers.
The spread of Novel Coronavirus Disease (COVID-19) and the impact this is having on domestic steel demand is leading most Chinese steel traders to suffer from stagnant sales. “If Shagang continued to insist that its dealers take as much as they’ve contracted, the slump in sales will see the dealers