Zhaobo Industrial suspends HR strip production
2023-04-18 08:27:44 [Print]
BEIJING (Asian Metal) 18 Apr 23 - Tianjin Zhaobo Industrial Co. (Zhaobo Industrial), a major producer of HR strip in Tianjin, stopped the production on April 13th with a daily output decrease of about 2,000t.
"We suspended HR strip production on April 13th for facility maintenance and would restart the production this weekend," revealed a source of the company. According to him, they might produce about 40,000t of HR strip this month, down from around 48,000t in March.
With one HR strip production line of 650mm rolling mill, Zhaobo Industrial produces HR strip with the width of 180-413mm and thickness of 1.5-5.75mm. Based on the annual production capacity of about 800,000t, the company produced around 330,000t of HR strip in 2022 and about 123,000t in the first quarter of this year. They have an inventory of about 15,000t in hand now, up by around 12,000t from late last month.
The mainstream prices of HR strip Q195 235mm*2.5mm*C from Zhaobo Industrial stood at about RMB4,060/t (USD591/t) D/P in warehouse Tianjin on Monday, down by RMB30/t (USD4/t) from last Friday. Insiders predict that Chinese HR strip prices would go down further in the coming week on weak demand.
"We suspended HR strip production on April 13th for facility maintenance and would restart the production this weekend," revealed a source of the company. According to him, they might produce about 40,000t of HR strip this month, down from around 48,000t in March.
With one HR strip production line of 650mm rolling mill, Zhaobo Industrial produces HR strip with the width of 180-413mm and thickness of 1.5-5.75mm. Based on the annual production capacity of about 800,000t, the company produced around 330,000t of HR strip in 2022 and about 123,000t in the first quarter of this year. They have an inventory of about 15,000t in hand now, up by around 12,000t from late last month.
The mainstream prices of HR strip Q195 235mm*2.5mm*C from Zhaobo Industrial stood at about RMB4,060/t (USD591/t) D/P in warehouse Tianjin on Monday, down by RMB30/t (USD4/t) from last Friday. Insiders predict that Chinese HR strip prices would go down further in the coming week on weak demand.
