Electrosteel's LaCe mischmetal consumption to move up
2020-08-04 08:19:42 [Print]
BEIJING (Asian Metal) 4 Aug 20 - Electrosteel Castings Limited, one of the major ductile iron pipes producers in India, plans to use around nine tons of metallurgical grade LaCe mischmetal (50g per block) in August 2020, up by about 29% MOM, according to a source from the company.
"We increased our operating rate from 70% in July 2020 to around 90% at the beginning of August 2020 and we would use about nine tons of metallurgical grade LaCe mischmetal (50g per block) this month, while we consumed only about seven tons in July 2020," said the consumer.
As a subsidiary corporation of Electrosteel Group, Electrosteel Castings Limited owns an annual consumption capacity of 150t of metallurgical grade LaCe mischmetal (50g per block). The company consumed about 120t of the material in 2019 but its consumption so far in 2020 reached only around 42t as it halted production from late March to late May as a result of the outbreak of COVID-19. It has around 18t of stocks now, a decline of seven tons MOM.
Mainstream prices of metallurgical grade LaCe mischmetal (50g per block) in India hovered unchanged at INR338-353/kg (USD4.5-4.7/kg) CIF India over the past week as owing to suppliers' stable costs. Dragged by the poor demand from consumers, the market witnesses slow buying activities but suppliers refuse to lower prices now. Consequently, insiders forecast that prices of metallurgical grade LaCe mischmetal (50g per block) would remain steady in the coming week.
"We increased our operating rate from 70% in July 2020 to around 90% at the beginning of August 2020 and we would use about nine tons of metallurgical grade LaCe mischmetal (50g per block) this month, while we consumed only about seven tons in July 2020," said the consumer.
As a subsidiary corporation of Electrosteel Group, Electrosteel Castings Limited owns an annual consumption capacity of 150t of metallurgical grade LaCe mischmetal (50g per block). The company consumed about 120t of the material in 2019 but its consumption so far in 2020 reached only around 42t as it halted production from late March to late May as a result of the outbreak of COVID-19. It has around 18t of stocks now, a decline of seven tons MOM.
Mainstream prices of metallurgical grade LaCe mischmetal (50g per block) in India hovered unchanged at INR338-353/kg (USD4.5-4.7/kg) CIF India over the past week as owing to suppliers' stable costs. Dragged by the poor demand from consumers, the market witnesses slow buying activities but suppliers refuse to lower prices now. Consequently, insiders forecast that prices of metallurgical grade LaCe mischmetal (50g per block) would remain steady in the coming week.
