Puyang Steel to raise the output of HR strip
2023-03-14 08:27:42 [Print]
BEIJING (Asian Metal) 14 Mar 23 - As a major producer of HR strip in Handan, Hebei province, Puyang Iron and Steel Co. (Puyang Steel), would increase the production from about 290,000t in February to around 310,000t in March, said a source of the company.
"We plan to raise HR strip output by about 20,000t month on month to around 310,000t this month mainly because of increased orders from customers," disclosed the source, who still has no inventory in hand for the time being and customers need to place orders in advance.
With one HR strip production line of 1,250mm rolling mill, Puyang Steel produces HR strip with the width of 865-1,260mm. Based on the annual production capacity of about five million tonnes, the company witnessed an output of about 2.76 million tonnes of HR strip last year and produced around 590,000t in the first two months of 2023.
The mainstream prices of HR strip Q235 1,010mm*3.5mm*C from Puyang Steel increased to about RMB4,360/t (USD632/t) D/P in warehouse Handan on Monday, up by RMB30/t (USD4/t) from last Friday. Insiders predict that Chinese HR strip prices would go up further in the coming week due to higher raw material prices.
"We plan to raise HR strip output by about 20,000t month on month to around 310,000t this month mainly because of increased orders from customers," disclosed the source, who still has no inventory in hand for the time being and customers need to place orders in advance.
With one HR strip production line of 1,250mm rolling mill, Puyang Steel produces HR strip with the width of 865-1,260mm. Based on the annual production capacity of about five million tonnes, the company witnessed an output of about 2.76 million tonnes of HR strip last year and produced around 590,000t in the first two months of 2023.
The mainstream prices of HR strip Q235 1,010mm*3.5mm*C from Puyang Steel increased to about RMB4,360/t (USD632/t) D/P in warehouse Handan on Monday, up by RMB30/t (USD4/t) from last Friday. Insiders predict that Chinese HR strip prices would go up further in the coming week due to higher raw material prices.
