Handan Steel to cut rebar output
2023-04-12 07:45:31 [Print]
BEIJING (Asian Metal) 12 Apr 23 - As one major rebar producer in Hebei, Handan Iron and Steel Co. (Handan Steel), a subsidiary of HBIS, plans to produce almost 8,000t of rebar in April, down from 10,000t in March.
"We decided to reduce rebar output by around 20% MoM due to insufficient supply of raw materials and unpromising market outlook," reported a source from Handan Steel, adding that its new rebar production lines failed to run smoothly under trial period and the company remained more active in steel plate production for higher profit. The company resumed rebar production in March after the suspension for seven months.
Handan Steel has two rebar production lines with an annual production capacity of 2.0 million tons. It produced approximately 270,000t of rebar in 2022 and recorded an output of nearly 10,000t in the Q1 of this year. It does not have stock at present.
In Handan, Hebei, the price of rebar HRB400E Φ22mm stood at around RMB3,970/t (USD577/t) on Tuesday, down by RMB20/t (USD3/t) from Monday. Due to rising deals from buyers but weakening prices of raw materials, rebar prices would stabilize in coming two days.
"We decided to reduce rebar output by around 20% MoM due to insufficient supply of raw materials and unpromising market outlook," reported a source from Handan Steel, adding that its new rebar production lines failed to run smoothly under trial period and the company remained more active in steel plate production for higher profit. The company resumed rebar production in March after the suspension for seven months.
Handan Steel has two rebar production lines with an annual production capacity of 2.0 million tons. It produced approximately 270,000t of rebar in 2022 and recorded an output of nearly 10,000t in the Q1 of this year. It does not have stock at present.
In Handan, Hebei, the price of rebar HRB400E Φ22mm stood at around RMB3,970/t (USD577/t) on Tuesday, down by RMB20/t (USD3/t) from Monday. Due to rising deals from buyers but weakening prices of raw materials, rebar prices would stabilize in coming two days.
