Chifeng Yuanlian decreases HR strip prices
2023-04-25 08:32:49 [Print]
BEIJING (Asian Metal) 25 Apr 23 - Chifeng Yuanlian United Steel Co. (Chifeng Yuanlian), a major HR strip producer in Chifeng, Inner Mongolia, reduced prices by RMB30/t (USD4/t) on April 24th. After the adjustment, the price of HR strip Q235 352-400mm*2.5mm*C fell to RMB3,780/t (USD548/t) EXW D/P.
"We cut HR strip prices by RMB30/t (USD4/t) on Monday dragged by lower raw materials prices of steel billet and weak demand," said a source of the company, adding that they normally follow the price trend of steel billet to adjust HR strip prices. According to him, the mainstream prices of steel billet Q235 150mm*150mm in Tangshan further dropped by RMB70/t (USD10/t) on Monday to RMB3,530/t (USD512/t) after the decrease of RMB60/t (USD9/t) last weekend.
"We would produce about 350,000t of HR strip this month, unchanged from last month," he said, adding that they have no spot materials in hand now and customers need to place orders in advance.
With one HR strip production lines of 650mm rolling mill and 900mm rolling mill respectively, Chifeng Yuanlian produces HR strip with the width of 352-400mm and 615-750mm. Based on the annual production capacity of about five million tonnes, the company produced about 1.05 million tonnes of HR strip in Q1 of this year and around 3.5 million tonnes last year.
"We cut HR strip prices by RMB30/t (USD4/t) on Monday dragged by lower raw materials prices of steel billet and weak demand," said a source of the company, adding that they normally follow the price trend of steel billet to adjust HR strip prices. According to him, the mainstream prices of steel billet Q235 150mm*150mm in Tangshan further dropped by RMB70/t (USD10/t) on Monday to RMB3,530/t (USD512/t) after the decrease of RMB60/t (USD9/t) last weekend.
"We would produce about 350,000t of HR strip this month, unchanged from last month," he said, adding that they have no spot materials in hand now and customers need to place orders in advance.
With one HR strip production lines of 650mm rolling mill and 900mm rolling mill respectively, Chifeng Yuanlian produces HR strip with the width of 352-400mm and 615-750mm. Based on the annual production capacity of about five million tonnes, the company produced about 1.05 million tonnes of HR strip in Q1 of this year and around 3.5 million tonnes last year.
