Ansteel to expand HRC production
2023-03-28 08:20:12 [Print]
BEIJING (Asian Metal) 28 Mar 23 - Anshan Iron and Steel Group Co. (Ansteel), the largest HRC producer in Northeast China, plans to produce 550,000t of HRC in April, up from 460,000t in March.
"We will run all the four HRC production lines (1,580mm, 1,700mm, 1,780mm, 2,150mm) regularly in April, and the output of HRC would witness the MoM increase of approximately 90,000t to 550,000t," stated a sales official from Ansteel. In the meantime, the source revealed that the exports would reach 90,000t, with the rest to sell in the domestic market. Meanwhile, he pointed out that end users held back from purchasing in recent one week discouraged by the price decrease.
Based on an annual HRC production capacity of 15.5 million tons, Ansteel might produce 1.45 million tons of HRC in the first quarter of 2023, against 6.34 million tons more or less in 2022. Ansteel holds zero stock at present.
The current prevailing price of HRC Q235B 5.5mm*1,500mm*C hovers at RMB4,260/t (USD619/t) D/P in warehouse Shenyang, Liaoning, up by RMB40/t (USD6/t) from late last week. The market runs slowly as end users show resistance towards the sudden price rebound after the continuous declines in the past one week.
"We will run all the four HRC production lines (1,580mm, 1,700mm, 1,780mm, 2,150mm) regularly in April, and the output of HRC would witness the MoM increase of approximately 90,000t to 550,000t," stated a sales official from Ansteel. In the meantime, the source revealed that the exports would reach 90,000t, with the rest to sell in the domestic market. Meanwhile, he pointed out that end users held back from purchasing in recent one week discouraged by the price decrease.
Based on an annual HRC production capacity of 15.5 million tons, Ansteel might produce 1.45 million tons of HRC in the first quarter of 2023, against 6.34 million tons more or less in 2022. Ansteel holds zero stock at present.
The current prevailing price of HRC Q235B 5.5mm*1,500mm*C hovers at RMB4,260/t (USD619/t) D/P in warehouse Shenyang, Liaoning, up by RMB40/t (USD6/t) from late last week. The market runs slowly as end users show resistance towards the sudden price rebound after the continuous declines in the past one week.
