Xinsteel to reduce CRC output
2023-03-21 08:25:47 [Print]
BEIJING (Asian Metal) 21 Mar 23 - As a major CRC producer in Central China, Jiangxi Xinyu Iron and Steel Co. (Xinsteel) plans to produce around 48,000t of CRC in April, down from 56,000t in March.
"We plan to conduct 7-day facility maintenance on HRC production line in April and would have to cut CRC output by nearly 14.3% MoM to 48,000t next month," reported a source from Xinsteel, adding that they showed some uncertainties about the coming market in April.
Xinsteel has one CRC production line with an annual production capacity of 750,000 tons. It produced approximately 625,000t of CRC in 2022, against 660,000t in 2021. It recorded an output of almost 105,000t in the first two months of this year, holding no stock currently.
In Guangzhou, Guangdong, the price of CRC SPCC 1.0mm*1,250mm*C from Xinsteel stood at RMB4,850-4,900/t (USD704-711/t) on Monday, similar to last Friday. Given softening market performance, CRC prices would go down slightly in coming two days.
"We plan to conduct 7-day facility maintenance on HRC production line in April and would have to cut CRC output by nearly 14.3% MoM to 48,000t next month," reported a source from Xinsteel, adding that they showed some uncertainties about the coming market in April.
Xinsteel has one CRC production line with an annual production capacity of 750,000 tons. It produced approximately 625,000t of CRC in 2022, against 660,000t in 2021. It recorded an output of almost 105,000t in the first two months of this year, holding no stock currently.
In Guangzhou, Guangdong, the price of CRC SPCC 1.0mm*1,250mm*C from Xinsteel stood at RMB4,850-4,900/t (USD704-711/t) on Monday, similar to last Friday. Given softening market performance, CRC prices would go down slightly in coming two days.
