Xinpengyuan Steel reduces seamless pipe production

BEIJING (Asian Metal) 24 Mar 23 - Liaocheng Xinpengyuan Intelligent Group (Xinpengyuan Steel), a major seamless pipe producer in Shandong, estimates that the output of seamless pipe would reduce to 65,000t in March from 80,000t in February.

"Discouraged by the poor sales performance as well as the losses, we slowed down the operation of both seamless pipe production lines this month, with the output to reduce by 20% MoM," disclosed a sales official from Xinpengyuan Steel. According to him, traders halted supplementing inventories this week, and end users strictly purchased from hand to mouth discouraged by the downward price trend.Asian Metal Copyright Reporting an annual production capacity of 1 million tons for two lines, Xinpengyuan Steel would produce 185,000t of seamless pipe in the first quarter of 2023, against 906,000t or so in 2022.Asian Metal Copyright "Our stock increased to 40,000t from the regular level of 30,000t this week," added the source.Asian Metal Copyright "Discouraged by the poor sales performance as well as the losses, we slowed down the operation of both seamless pipe production lines this month, with the output to reduce by 20% MoM," disclosed a sales official from Xinpengyuan Steel.Asian Metal Copyright To promote sales, Xinpengyuan Steel moved down prices in succession.

At present, the EXW price of seamless pipe 20# Φ325mm*10mm from Xinpengyuan Steel stands at RMB4,870/t (USD708/t) D/P, down by RMB50/t (USD7/t) from early this week.

Reporting an annual production capacity of 1 million tons for two lines, Xinpengyuan Steel would produce 185,000t of seamless pipe in the first quarter of 2023, against 906,000t or so in 2022.


.Asian Metal Copyright According to him, traders halted supplementing inventories this week, and end users strictly purchased from hand to mouth discouraged by the downward price trendAsian Metal Copyright