Xinjiang Kunyu Steel restarts rebar production
2023-03-08 08:29:29 [Print]
BEIJING (Asian Metal) 8 Mar 23 - As one major rebar producer in Xinjiang, Kunyu Iron and Steel Co. (Kunyu Steel), a subsidiary of Shandong Shiheng Special Steel, resumes production on March 8 and its output will reach about 2,500tpd in the coming week.
"We resumed rebar production from this Wednesday and would increase output gradually to about 2,500tpd in coming days," said a source from the company, adding that they stopped production from October 20, 2022 due to huge stocks and weak demand from downstream industries. It would produce almost 50,000t of rebar in March.
Kunyu Steel has one rebar production line with an annual production capacity of 1.0 million tons. It produced nearly 600,000t of rebar in 2022, down from 650,000t in 2021. Currently it holds an inventory of roughly 14,000t.
Mainstream prices of rebar HRB400E Φ18-20mm in Xinjiang hovered at RMB3,950-4,000/t (USD570-577/t) on Tuesday, in line with Monday. Upon both of rising supply and demand, rebar prices in Xinjiang would stabilize in the coming week.
"We resumed rebar production from this Wednesday and would increase output gradually to about 2,500tpd in coming days," said a source from the company, adding that they stopped production from October 20, 2022 due to huge stocks and weak demand from downstream industries. It would produce almost 50,000t of rebar in March.
Kunyu Steel has one rebar production line with an annual production capacity of 1.0 million tons. It produced nearly 600,000t of rebar in 2022, down from 650,000t in 2021. Currently it holds an inventory of roughly 14,000t.
Mainstream prices of rebar HRB400E Φ18-20mm in Xinjiang hovered at RMB3,950-4,000/t (USD570-577/t) on Tuesday, in line with Monday. Upon both of rising supply and demand, rebar prices in Xinjiang would stabilize in the coming week.
