Xinsteel to enlarge CRC output
2023-04-27 08:27:57 [Print]
BEIJING (Asian Metal) 27 Apr 23 - As a major CRC producer in Central China, Jiangxi Xinyu Iron and Steel Co. (Xinsteel) estimated the output would reach about 56,000t in May, up from 48,000t in April.
"We resumed normal production in late April after the 7-day facility maintenance on production line and estimated the output would hike by around 16.7% MoM to 56,000t in May," said a source from Xinsteel, adding that adding that they became more active in flat steel production than construction steel as they get more losses by producing construction steel now.
Xinsteel has one CRC production line with an annual production capacity of 750,000 tons. It witnessed an output of roughly 210,000t so far this year, against around 625,000t in 2022. It has no stock at present.
In Guangzhou, Guangdong, the price of CRC SPCC 1.0mm*1,250mm*C from Xinsteel stood at RMB4,500-4,550/t (USD650-657/t) on Wednesday, down by around RMB200/t (USD29/t) from one week ago. After the continuous decline in past days, the market performance might show some improvement before the May Day holiday. CRC prices would level off in coming two days.
"We resumed normal production in late April after the 7-day facility maintenance on production line and estimated the output would hike by around 16.7% MoM to 56,000t in May," said a source from Xinsteel, adding that adding that they became more active in flat steel production than construction steel as they get more losses by producing construction steel now.
Xinsteel has one CRC production line with an annual production capacity of 750,000 tons. It witnessed an output of roughly 210,000t so far this year, against around 625,000t in 2022. It has no stock at present.
In Guangzhou, Guangdong, the price of CRC SPCC 1.0mm*1,250mm*C from Xinsteel stood at RMB4,500-4,550/t (USD650-657/t) on Wednesday, down by around RMB200/t (USD29/t) from one week ago. After the continuous decline in past days, the market performance might show some improvement before the May Day holiday. CRC prices would level off in coming two days.
