Jilin Jianlong Steel to reduce HRC production
2023-03-31 08:15:40 [Print]
BEIJING (Asian Metal) 31 Mar 23 - Jilin Jianlong Iron & Steel Co. (Jilin Jianlong Steel), a major HRC producer in Northeast China, plans to produce 250,000t of HRC in April, down from 300,000t in March.
"We will conduct the one week facility maintenance on the continuous caster from April 16, and will slow down the operation of the only 1,450mm HRC production line accordingly due to the reduced raw material supply. Therefore, the output of HRC would witness the MoM decline of 50,000t to 250,000t in April," disclosed a sales official from Jilin Jianlong Steel. Reporting losses, the source foresees narrow price changes of HRC in April. "Discouraged by the downward price trend in the past ten days, downstream customers remain inactive in placing orders now," added the source.
Based on an annual production capacity of 4.2 million tons, Jilin Jianlong Steel produced about 850,000t of HRC in the first quarter of 2023, against 3.2 million tons or so in 2022. Jilin Jianlong Steel holds no stock at present.
Presently, the mainstream price of HRC Q235B 5.75mm*1,500mm*C hovers at RMB4,240/t (USD616/t) D/P in warehouse Shenyang, Liaoning, down by RMB20/t (USD3/t) compared with Wednesday. The market runs quietly as end users adopt wait-and-see attitudes towards the frequent price fluctuations.
"We will conduct the one week facility maintenance on the continuous caster from April 16, and will slow down the operation of the only 1,450mm HRC production line accordingly due to the reduced raw material supply. Therefore, the output of HRC would witness the MoM decline of 50,000t to 250,000t in April," disclosed a sales official from Jilin Jianlong Steel. Reporting losses, the source foresees narrow price changes of HRC in April. "Discouraged by the downward price trend in the past ten days, downstream customers remain inactive in placing orders now," added the source.
Based on an annual production capacity of 4.2 million tons, Jilin Jianlong Steel produced about 850,000t of HRC in the first quarter of 2023, against 3.2 million tons or so in 2022. Jilin Jianlong Steel holds no stock at present.
Presently, the mainstream price of HRC Q235B 5.75mm*1,500mm*C hovers at RMB4,240/t (USD616/t) D/P in warehouse Shenyang, Liaoning, down by RMB20/t (USD3/t) compared with Wednesday. The market runs quietly as end users adopt wait-and-see attitudes towards the frequent price fluctuations.
