Baoxin Stainless to raise the output of stainless steel
2023-03-22 08:40:34 [Print]
BEIJING (Asian Metal) 22 Mar 23 - As a major stainless steel producer in East China, Ningbo Baoxin Stainless Steel Co. (Baoxin Stainless) would increase the output by about 10% MoM to around 55,000t next month, disclosed a source of the company.
"We plan to expand the production of stainless steel from about 50,000t this month to around 55,000t in April due to increased orders," said the source, adding that they have no spot materials in hand for the time being and customers need to place orders in advance.
Located in Ningbo, Zhejiang province, Baoxin Stainless produces 300 series and 400 series stainless CRC with an annual production capacity of about 660,000t. It witnessed an output of around 580,000t in 2022 and produced about 85,000t in the first two months of 2023.
The mainstream prices of stainless CRC 304/2B 2.0mm*1,219mm*C from Baoxin Stainless stood at about RMB16,400/t (USD2,384/t) D/P in warehouse Wuxi on Tuesday, down by RMB100/t (USD15/t) from Monday. Insiders predict that Chinese 304 grade stainless CRC prices would drop by another RMB100/t (USD15/t) in the coming week dragged by customers' slow purchasing activities.
"We plan to expand the production of stainless steel from about 50,000t this month to around 55,000t in April due to increased orders," said the source, adding that they have no spot materials in hand for the time being and customers need to place orders in advance.
Located in Ningbo, Zhejiang province, Baoxin Stainless produces 300 series and 400 series stainless CRC with an annual production capacity of about 660,000t. It witnessed an output of around 580,000t in 2022 and produced about 85,000t in the first two months of 2023.
The mainstream prices of stainless CRC 304/2B 2.0mm*1,219mm*C from Baoxin Stainless stood at about RMB16,400/t (USD2,384/t) D/P in warehouse Wuxi on Tuesday, down by RMB100/t (USD15/t) from Monday. Insiders predict that Chinese 304 grade stainless CRC prices would drop by another RMB100/t (USD15/t) in the coming week dragged by customers' slow purchasing activities.
