China’s blast furnace (BF) steel mills are now reducing their consumption of steel scrap in both their ironmaking and steelmaking processes to nurse what inventories they have, Mysteel Global learned Wednesday. The mills’ steel scrap inventories at hand are decreasing daily as scrap deliveries to their yards have declined, chiefly because of the Chinese New Year (CNY) holiday break and because of the outbreak of Novel Coronavirus Pneumonia, a Shanghai-based market watcher explained.
Source : https://www.mysteel.net