Henan Angang Xinyang Steel reduces rebar output
2023-04-28 08:04:40 [Print]
BEIJING (Asian Metal) 28 Apr 23 - As a major construction steel producer in Henan, Angang Xinyang Iron and Steel Co. (Angang Xinyang Steel) estimated the output would reach around 100,000t in April, down from 180,000t in March.
"Due to increasing deficit from producing rebar and weakening demand from our clients, we stopped one rebar production line this month and the output would decline by about 44.4% MoM to 100,000t in April," reported a source from Xinyang Steel, adding that they became more active in strip production this month and reduced rebar production accordingly.
Xinyang Steel has two rebar production lines with an annual production capacity of 2.5 million tons. It produced approximately 400,000 of rebar so far this year, against 1.35 million tons in 2022. It has an inventory of almost 20,000t at present.
In Xinyang, Henan, the mainstream price of rebar HRB400 Φ18-20mm stood at around RMB3,720/t (USD538/t) on Thursday, similar to Wednesday. Given weak demand from downstream industries but reducing supply from steel mills, rebar prices would level off in coming two days.
"Due to increasing deficit from producing rebar and weakening demand from our clients, we stopped one rebar production line this month and the output would decline by about 44.4% MoM to 100,000t in April," reported a source from Xinyang Steel, adding that they became more active in strip production this month and reduced rebar production accordingly.
Xinyang Steel has two rebar production lines with an annual production capacity of 2.5 million tons. It produced approximately 400,000 of rebar so far this year, against 1.35 million tons in 2022. It has an inventory of almost 20,000t at present.
In Xinyang, Henan, the mainstream price of rebar HRB400 Φ18-20mm stood at around RMB3,720/t (USD538/t) on Thursday, similar to Wednesday. Given weak demand from downstream industries but reducing supply from steel mills, rebar prices would level off in coming two days.
