Bayi Steel to enlarge construction steel output
2023-03-10 08:30:20 [Print]
BEIJING (Asian Metal) 10 Mar 23 - As the biggest construction steel producer in Xinjiang, Baowu Group Bayi Iron and Steel Co. (Bayi Steel) plans to produce almost 400,000t of construction steel in March, up from 330,000t in February.
"As the demand for construction steel from building sites would grow further in the coming month, we decided to enlarge the production by around 21.2% MoM to 400,000t in March," said a source from the company, adding that they could produce nearly 450,000t of construction steel per month when they ran all production lines with full capacity.
Bayi Steel's production capacity for construction steel reaches 5.0 million tons in three production bases. It recorded an output of approximately 3.16 million tons in 2022, down from 3.75 million tons in 2021. Its output totaled around 550,000t in the first two months of this year. It has an inventory of almost 200,000t at present.
In Xinjiang, the mainstream prices of rebar HRB400E Φ20mm and coiled rebar HRB400E Φ8mm stood at around RMB4,050/t (USD582/t) and RMB4,200/t (USD604/t) respectively on Thursday, both up by RMB20/t (USD3/t) from Wednesday. Given firm prices of raw materials but high stocks from steel mills, insiders predict construction steel prices in Xinjiang would level off in the following week.
"As the demand for construction steel from building sites would grow further in the coming month, we decided to enlarge the production by around 21.2% MoM to 400,000t in March," said a source from the company, adding that they could produce nearly 450,000t of construction steel per month when they ran all production lines with full capacity.
Bayi Steel's production capacity for construction steel reaches 5.0 million tons in three production bases. It recorded an output of approximately 3.16 million tons in 2022, down from 3.75 million tons in 2021. Its output totaled around 550,000t in the first two months of this year. It has an inventory of almost 200,000t at present.
In Xinjiang, the mainstream prices of rebar HRB400E Φ20mm and coiled rebar HRB400E Φ8mm stood at around RMB4,050/t (USD582/t) and RMB4,200/t (USD604/t) respectively on Thursday, both up by RMB20/t (USD3/t) from Wednesday. Given firm prices of raw materials but high stocks from steel mills, insiders predict construction steel prices in Xinjiang would level off in the following week.
