Baotou Steel resumes construction steel production
2023-04-24 08:22:48 [Print]
BEIJING (Asian Metal) 24 Apr 23 - As a major construction steel producer in North China, Baotou Iron and Steel Group Co. (Baotou Steel) restarted to produce construction steel on April 21 after a 5-day suspension.
"Due to the tight supply of iron melt, we had to stop three construction steel production lines from April 16 and resumed regular production from April 21," said a source from Baotou Steel, adding that their output was reduced by nearly 30,000t during this time. Its output for construction steel would reach almost 140,000t in April, up from 30,000t in March.
Baotou Steel owns an annual production capacity of 2.8 million tons for construction steel. It produced nearly 700,000t of the material in 2022 and roughly 190,000t so far this year. Currently it has an inventory of around 60,000t, up by 40,000t from the end of March.
In Baotou, the mainstream price of rebar HRB400E Φ18-22mm stood at around RMB3,800/t (USD551/t) last Sunday, down by RMB90/t (USD13/t) from last Friday. Upon weakening prices of raw materials and bearish sentiment from participants, rebar prices would fall further this week.
"Due to the tight supply of iron melt, we had to stop three construction steel production lines from April 16 and resumed regular production from April 21," said a source from Baotou Steel, adding that their output was reduced by nearly 30,000t during this time. Its output for construction steel would reach almost 140,000t in April, up from 30,000t in March.
Baotou Steel owns an annual production capacity of 2.8 million tons for construction steel. It produced nearly 700,000t of the material in 2022 and roughly 190,000t so far this year. Currently it has an inventory of around 60,000t, up by 40,000t from the end of March.
In Baotou, the mainstream price of rebar HRB400E Φ18-22mm stood at around RMB3,800/t (USD551/t) last Sunday, down by RMB90/t (USD13/t) from last Friday. Upon weakening prices of raw materials and bearish sentiment from participants, rebar prices would fall further this week.
