Shanxi Jianlong Steel increases HRC production
2023-04-04 08:17:04 [Print]
BEIJING (Asian Metal) 4 Apr 23 - Shanxi Jianlong Iron and Steel Co. (Shanxi Jianlong Steel), the major HRC producer in North China, estimates that the output of HRC would reach 300,000t this month, against 140,000t in March.
"We halted one steel bar production line this month, and transfer more iron melt to the HRC production. Therefore, the output of HRC would achieve 300,000t in April, while we kept reducing HRC production since last June, with the monthly output maintaining below 200,000t," disclosed a sales official of Shanxi Jianlong Steel. In the meantime, the source revealed that end users remain cautious about placing orders at the moment discouraged by the price drop since Mid-March, but he believes they will have to supplement inventory before the May Day holiday. Therefore, the source forecasts narrow price changes within this month.
Based on an annual production capacity of 4 million tons for the only 1,500mm line, Shanxi Jianlong Steel roughly produced 450,000t of HRC in the first quarter of 2023, against 2.3 million tons more or less in 2022. Shanxi Jianlong Steel does not hold any stock for the moment.
The current prevailing price of HRC Q235B 5.75mm*1,500mm*C hovers at RMB4,300/t (USD624/t) in Tangshan, Hebei, down by RMB10/t (USD1.5/t) from last Sunday. The demand from downstream industries keeps improving gradually, but market runs slowly as end users remain inactive in purchasing.
"We halted one steel bar production line this month, and transfer more iron melt to the HRC production. Therefore, the output of HRC would achieve 300,000t in April, while we kept reducing HRC production since last June, with the monthly output maintaining below 200,000t," disclosed a sales official of Shanxi Jianlong Steel. In the meantime, the source revealed that end users remain cautious about placing orders at the moment discouraged by the price drop since Mid-March, but he believes they will have to supplement inventory before the May Day holiday. Therefore, the source forecasts narrow price changes within this month.
Based on an annual production capacity of 4 million tons for the only 1,500mm line, Shanxi Jianlong Steel roughly produced 450,000t of HRC in the first quarter of 2023, against 2.3 million tons more or less in 2022. Shanxi Jianlong Steel does not hold any stock for the moment.
The current prevailing price of HRC Q235B 5.75mm*1,500mm*C hovers at RMB4,300/t (USD624/t) in Tangshan, Hebei, down by RMB10/t (USD1.5/t) from last Sunday. The demand from downstream industries keeps improving gradually, but market runs slowly as end users remain inactive in purchasing.
