Lianyuan Steel to reduce rebar output
2023-04-13 08:08:36 [Print]
BEIJING (Asian Metal) 13 Apr 23 - As a major rebar producer in Hunan, Valin Lianyuan Iron and Steel Co. (Lianyuan Steel) plans to produce roughly 70,000t of rebar in April, down from 100,000t in March.
"We remained inactive in rebar production this month and decided to cut output by around 30% MoM to 70,000t," said a source from Lianyuan Steel, adding that they prefer to produce flat steel for higher profit and could not operate one of three rebar production lines with full capacity in April. It could produce about 350,000t of rebar per month when production lines run fully.
Lianyuan Steel has three rebar production lines owning an annual production capacity of 4.5 million tons. It recorded a total output of approximately 1.9 million tons in 2022 and almost 270,000t in the Q1 of this year. It does not have stock at present.
In Changsha, Hunan, the price of rebar HRB400E Φ20-22mm from Lianyuan Steel stood at about RMB4,100/t (USD610/t) on Wednesday, similar to Tuesday. Upon firm cost but limited demand from downstream industries, rebar prices would stabilize in coming two days.
"We remained inactive in rebar production this month and decided to cut output by around 30% MoM to 70,000t," said a source from Lianyuan Steel, adding that they prefer to produce flat steel for higher profit and could not operate one of three rebar production lines with full capacity in April. It could produce about 350,000t of rebar per month when production lines run fully.
Lianyuan Steel has three rebar production lines owning an annual production capacity of 4.5 million tons. It recorded a total output of approximately 1.9 million tons in 2022 and almost 270,000t in the Q1 of this year. It does not have stock at present.
In Changsha, Hunan, the price of rebar HRB400E Φ20-22mm from Lianyuan Steel stood at about RMB4,100/t (USD610/t) on Wednesday, similar to Tuesday. Upon firm cost but limited demand from downstream industries, rebar prices would stabilize in coming two days.
