Tonggang Group resumes HRC production
2023-03-23 08:20:33 [Print]
BEIJING (Asian Metal) 23 Mar 23 - After the suspension on March 16, Tonghua Iron & Steel Group (Tonggang Group), one of the four HRC producers in Northeast China, will restart the operation of the only 1,750mm HRC production line on March 23, with the output to increase by about 7,000t a day.
"We will resume the only 1,750mm HRC production line on Thursday after the one-week suspension. Meanwhile, we plan to hike the HRC production to 250,000t in April from 120,000t or so in March," disclosed the sales official from Tonggang Group. In the meantime, the source revealed that Tonggang Group resumed one blast furnace late last week, and runs both blast furnaces at the moment, with the daily iron melt supply achieving 12,000t or so.
Reporting an annual production capacity of 3.12 million tons, Tonggang Group might produce 420,000t of HRC in the first quarter of 2023, against 2.2 million tons more or less in 2022. Tonggang Group does not hold any stock right now.
The present mainstream price of HRC Q235B 5.5mm*1,500mm*C hovers at RMB4,240/t (USD616/t) D/P in warehouse Shenyang, Liaoning, down by RMB40/t (USD6/t) compared with Tuesday. The market runs slowly as end users hold back from purchasing discouraged by the downward price trend.
"We will resume the only 1,750mm HRC production line on Thursday after the one-week suspension. Meanwhile, we plan to hike the HRC production to 250,000t in April from 120,000t or so in March," disclosed the sales official from Tonggang Group. In the meantime, the source revealed that Tonggang Group resumed one blast furnace late last week, and runs both blast furnaces at the moment, with the daily iron melt supply achieving 12,000t or so.
Reporting an annual production capacity of 3.12 million tons, Tonggang Group might produce 420,000t of HRC in the first quarter of 2023, against 2.2 million tons more or less in 2022. Tonggang Group does not hold any stock right now.
The present mainstream price of HRC Q235B 5.5mm*1,500mm*C hovers at RMB4,240/t (USD616/t) D/P in warehouse Shenyang, Liaoning, down by RMB40/t (USD6/t) compared with Tuesday. The market runs slowly as end users hold back from purchasing discouraged by the downward price trend.
