Baolida Steel to reduce HR strip production
2023-03-29 08:18:14 [Print]
BEIJING (Asian Metal) 29 Mar 23 - As a major producer of HR strip in Tianjin, Tianjin Baolida Iron and Steel Co. (Baolida Steel) would cut the production by about 15,000t MoM to around 55,000t this month.
"We suspended the production from March 4th to March 12th and would just produce about 55,000t of HR strip this month, down from around 70,000t in February," explained a source of the company. In addition, they have a stockpile of about 6,000t in hand now, up from around 3,000t early this month.
Based on one HR strip production line of 650mm rolling mill and the annual production capacity of about 1.2 million tonnes, the company produces HR strip with the width of 183-395mm. It recorded an output of about 750,000t of HR strip in 2022 and produced around 110,000t in Jan-Feb of 2023.
The mainstream prices of HR strip Q235 235mm*2.5mm*C from Baolida Steel remained at about RMB4,280/t (USD622/t) D/P in warehouse Tianjin on Tuesday, the same as those on Monday. Insiders predict that Chinese HR strip prices would go down in the coming week on soft demand.
"We suspended the production from March 4th to March 12th and would just produce about 55,000t of HR strip this month, down from around 70,000t in February," explained a source of the company. In addition, they have a stockpile of about 6,000t in hand now, up from around 3,000t early this month.
Based on one HR strip production line of 650mm rolling mill and the annual production capacity of about 1.2 million tonnes, the company produces HR strip with the width of 183-395mm. It recorded an output of about 750,000t of HR strip in 2022 and produced around 110,000t in Jan-Feb of 2023.
The mainstream prices of HR strip Q235 235mm*2.5mm*C from Baolida Steel remained at about RMB4,280/t (USD622/t) D/P in warehouse Tianjin on Tuesday, the same as those on Monday. Insiders predict that Chinese HR strip prices would go down in the coming week on soft demand.
