Shougang Group to cut HRC production

BEIJING (Asian Metal) 21 Mar 23 - Shougang Group, the leading HRC producer in North China, estimates that the output of HRC would reduce to 530,000t in April from 630,000t in March.

"We will suspend one HRC production line in Jingtang Branch for around 5 days in April, and thus the output of HRC in April would witness the MoM decline of 100,000t to 530,000t," noted a sales official of Shougang Group. Meanwhile, the source disclosed that the mill tends to hike the proportion of fine steel stimulated by the rising purchasing activities of end users, while it had to increase the proportion of carbon HRC in the past two months dragged by the insufficient orders.

Reporting an annual HRC production capacity of 18.4 million tons, Shougang Group might record the output of around 1.Asian Metal Copyright5 million tons more or less in 2022.Asian Metal Copyright78 million tons in the first quarter of 2023, against 5.Asian Metal Copyright Reporting an annual HRC production capacity of 18.Asian Metal Copyright5 million tons more or less in 2022.Asian Metal CopyrightBEIJING Asian Metal 21 Mar 23 - Shougang Group, the leading HRC producer in North China, estimates that the output of HRC would reduce to 530,000t in April from 630,000t in March.Asian Metal Copyright Shougang Group does not hold any stock at present.

Presently, the prevailing price of HRC Q235B 4.75mm*1,500mm*C hovers at RMB4,360/t (USD632/t) D/P in warehouse Tangshan, Hebei, down by RMB20/t (USD3/t) from last Sunday.Asian Metal Copyright75mm*1,500mm*C hovers at RMB4,360t USD632t DP in warehouse Tangshan, Hebei, down by RMB20t USD3t from last Sunday.Asian Metal Copyright The demand from downstream industries improves gradually, but end users keep inactive in purchasing discouraged by the price decline.

.Asian Metal Copyright5 million tons more or less in 2022Asian Metal Copyright