Taishan Steel to decrease CRC output
2023-04-25 08:28:29 [Print]
BEIJING (Asian Metal) 25 Apr 23 - As a major CRC producer in Shandong, Taishan Iron and Steel Co. (Taishan Steel) plans to produce almost 50,000t of CRC in May, down from 56,000t in April.
"Discouraged by reduced demand from clients and tight supply of raw materials, we decided to cut CRC output by nearly 10.7% MoM to 50,000t in May," said a source from the company, adding that they would stop its 1,780mm HRC production line in May, which would bring reduced supply of raw materials for CRC production. In addition, CRC prices went down by nearly RMB200/t (USD29/t) in recent one week.
Taishan Steel has two CRC production lines with an annual production capacity of 750,000 tons. It recorded an output of approximately 600,000t in 2022 and about 163,000t in the Q1 of this year. It has no stock at present.
In Laiwu, Shandong, the price of CRC SPCC 1.0mm*1,250mm*C from Taishan Steel stood at RMB4,350/t (USD631/t) on Monday, down by RMB30/t (USD4/t) from last Sunday. Given falling prices of raw materials and bearish sentiment from market participants, CRC prices would edge down further in coming two days.
"Discouraged by reduced demand from clients and tight supply of raw materials, we decided to cut CRC output by nearly 10.7% MoM to 50,000t in May," said a source from the company, adding that they would stop its 1,780mm HRC production line in May, which would bring reduced supply of raw materials for CRC production. In addition, CRC prices went down by nearly RMB200/t (USD29/t) in recent one week.
Taishan Steel has two CRC production lines with an annual production capacity of 750,000 tons. It recorded an output of approximately 600,000t in 2022 and about 163,000t in the Q1 of this year. It has no stock at present.
In Laiwu, Shandong, the price of CRC SPCC 1.0mm*1,250mm*C from Taishan Steel stood at RMB4,350/t (USD631/t) on Monday, down by RMB30/t (USD4/t) from last Sunday. Given falling prices of raw materials and bearish sentiment from market participants, CRC prices would edge down further in coming two days.
