Baotou Steel expands HRC production
2023-04-14 08:22:03 [Print]
BEIJING (Asian Metal) 14 Apr 23 - Acts as the largest HRC producer in Inner Mongolia, Baotou Iron and Steel Group Co. (Baotou Steel) plans to produce 350,000t of HRC in April, up from 250,000t in March.
"We will run fully of both HRC production lines (1,780mm, 2,250mm) this month, while halted the 1,780mm line for 20 days in March. As a consequence, the output in April would see the MoM increase of 100,000t to 350,000t," disclosed a sales official from Baotou Steel. Meanwhile, the source pointed out that the market witnesses bearish atmosphere at the moment as both traders and end users keep inactive in placing orders. He worries prices of HRC would edge down further in the remainder of this month.
Based on an annual production capacity of 7.2 million tons, Baotou Steel recorded the output of around 990,000t in the first quarter of 2023, against 4.6 million tons in 2022. Baotou Steel holds no stock for the moment.
The present prevailing price of HRC Q235B 4.75mm*1,500mm*C hovers at RMB4,120/t (USD599/t) D/P in warehouse Tianjin, down by RMB30/t (USD4/t) from Wednesday. The market runs slowly as downstream customers keep cautious about purchasing seeing the downward price trend, but the demand from downstream industries keeps improving.
"We will run fully of both HRC production lines (1,780mm, 2,250mm) this month, while halted the 1,780mm line for 20 days in March. As a consequence, the output in April would see the MoM increase of 100,000t to 350,000t," disclosed a sales official from Baotou Steel. Meanwhile, the source pointed out that the market witnesses bearish atmosphere at the moment as both traders and end users keep inactive in placing orders. He worries prices of HRC would edge down further in the remainder of this month.
Based on an annual production capacity of 7.2 million tons, Baotou Steel recorded the output of around 990,000t in the first quarter of 2023, against 4.6 million tons in 2022. Baotou Steel holds no stock for the moment.
The present prevailing price of HRC Q235B 4.75mm*1,500mm*C hovers at RMB4,120/t (USD599/t) D/P in warehouse Tianjin, down by RMB30/t (USD4/t) from Wednesday. The market runs slowly as downstream customers keep cautious about purchasing seeing the downward price trend, but the demand from downstream industries keeps improving.
