Baotou Steel to restart rebar production
2023-03-31 07:42:42 [Print]
BEIJING (Asian Metal) 31 Mar 23 - As a major construction steel producer in North China, Baotou Iron and Steel Group Co. (Baotou Steel) plans to resume rebar production from April 1, with output to rise by 2,000tpd.
"We decided to restart two rebar production lines from April 1, which is one month earlier than we ever planned, as we got extra supply of iron melt due to the reduction of flat steel," said a source from Baotou Steel, adding that they would produce rebar, coiled rebar and wire rod with a total amount of around 90,000t in April, up from 30,000t in March.
Baotou Steel owns an annual production capacity of 2.8 million tons for construction steel. It recorded an output of nearly 90,000t so far this year, against 700,000t in 2022. Currently it has an inventory of about 20,000t.
In Baotou, the mainstream price of rebar HRB400E Φ18-22mm stood at around RMB4,090/t (USD594/t) on Thursday, similar to Wednesday. Upon weakening prices of raw materials and slow market performance, rebar prices would go down slightly in the coming week.
"We decided to restart two rebar production lines from April 1, which is one month earlier than we ever planned, as we got extra supply of iron melt due to the reduction of flat steel," said a source from Baotou Steel, adding that they would produce rebar, coiled rebar and wire rod with a total amount of around 90,000t in April, up from 30,000t in March.
Baotou Steel owns an annual production capacity of 2.8 million tons for construction steel. It recorded an output of nearly 90,000t so far this year, against 700,000t in 2022. Currently it has an inventory of about 20,000t.
In Baotou, the mainstream price of rebar HRB400E Φ18-22mm stood at around RMB4,090/t (USD594/t) on Thursday, similar to Wednesday. Upon weakening prices of raw materials and slow market performance, rebar prices would go down slightly in the coming week.
