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PrintIt is reported that Tangshan Steel supply department has reduced the mill's 7 kinds of raw materials stockpiles from 1.475 million tonnes in middle August to 0.62 million tonnes in late November mobilizing freezed capital by CNY 2 billion as a whole.
The 7 raw materials are coke, coking coal, PCI coal, ore powder, SiMn alloy, pig iron and scrap.
The supply dept has also adjusted purchasing variety in addition to working down inventories by the end of November 20th, lump coal takes up 90% of the total 0.22 million tonnes of coking coal stockpiles.
Recently, the supply dept has finished the purchase of 11.14-million tonnes of 9 kinds of raw materials, of which 0.698 million tonnes was purchased in October and 0.244-million tonnes in the early and middle November. If it runs like this, the November purchase is expected to reduce by 0.332 million tonnes over last month or down 48%.
(Source: Tangshan Steel)
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