Ganglu Steel increases HRC production
2023-04-25 08:15:37 [Print]
BEIJING (Asian Metal) 25 Apr 23 - Ganglu Iron and Steel Co. (Ganglu Steel), one of the major HRC producers in North China, estimates that the output of HRC would achieve 570,000t in April, up from 440,000t in March.
"We run both HRC production lines (1,450mm, 1,700mm) regularly this month, while halted the 1,450mm line for 22 days in March. Therefore, the output in April would witness the MoM increase of 130,000t to 570,000t," disclosed a sales official from Ganglu Steel. In the meantime, the source pointed out that the mill endeavors to reduce stocks of raw materials discouraged by the decreasing prices of HRC. He deems prices of HRC would keep going down until the middle of May, with the markdown of around RMB100/t (USD15/t).
Base on an annual production capacity of 7.2 million tons, Ganglu Steel recorded the output of around 1.5 million tons in the first quarter of 2023, against 5.4 million tons or so in 2022. The mill does not hold any stocks for the moment.
The current prevailing price of HRC Q235B 5.75mm*1,500mm*C hovers at RMB3,880/t (USD563/t) D/P in warehouse Tangshan, Hebei, down by RMB40/t (USD6/t) from last Sunday. The market runs slowly as end users keep cautious about purchasing seeing the downward price trend.
"We run both HRC production lines (1,450mm, 1,700mm) regularly this month, while halted the 1,450mm line for 22 days in March. Therefore, the output in April would witness the MoM increase of 130,000t to 570,000t," disclosed a sales official from Ganglu Steel. In the meantime, the source pointed out that the mill endeavors to reduce stocks of raw materials discouraged by the decreasing prices of HRC. He deems prices of HRC would keep going down until the middle of May, with the markdown of around RMB100/t (USD15/t).
Base on an annual production capacity of 7.2 million tons, Ganglu Steel recorded the output of around 1.5 million tons in the first quarter of 2023, against 5.4 million tons or so in 2022. The mill does not hold any stocks for the moment.
The current prevailing price of HRC Q235B 5.75mm*1,500mm*C hovers at RMB3,880/t (USD563/t) D/P in warehouse Tangshan, Hebei, down by RMB40/t (USD6/t) from last Sunday. The market runs slowly as end users keep cautious about purchasing seeing the downward price trend.
