The latest ten-day steel pricing policy indicate that Shagang may
have its steel margins squeezed as the steel mill, also the country’s largest
electric-arc-furnace-based steel producer, raised its steel scrap procurement
price by Yuan 50/tonne ($7.6/t)
effective November 26.
Shagang’s latest pricing policy also aligns with the market
cautiousness for the last month of 2020, and
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