Benxi Shentie to cut S.G. cast iron output
2023-04-28 08:04:43 [Print]
BEIJING (Asian Metal) 28 Apr 23 - As one of three largest S.G. cast iron producers in Benxi, Liaoning, Benxi Shentie Iron (Group) Ltd. (Benxi Shentie) plans to stop one of two blast furnaces by the end of April, with S.G. cast iron output reduced by around 800tpd.
"Discouraged by reducing demand from clients and continuous deficit, we plan to halt one blast furnace by the end of this month and the output of S.G. cast iron would reduce by nearly 800tpd," said a source from Benxi Shentie, adding that S.G. cast iron prices totally fell by nearly RMB350/t (USD51/t) in recent one month due to weakened demand from foundries.
Benxi Shentie owns an annual production capacity of 600,000t for S.G. cast iron and produced roughly 330,000t of the material in 2022. It recorded an output of nearly 120,000t so far this year, holding an inventory of almost 5,000t at present.
On Thursday, the mainstream price of S.G. cast iron Q10 in Benxi, Liaoning stood at around RMB3,450/t (USD499/t) EXW D/P, down by RMB20/t (USD3/t) from Wednesday. Given stagnant demand from end clients and falling prices of raw materials, S.G. cast iron prices would fall further in the coming week.
"Discouraged by reducing demand from clients and continuous deficit, we plan to halt one blast furnace by the end of this month and the output of S.G. cast iron would reduce by nearly 800tpd," said a source from Benxi Shentie, adding that S.G. cast iron prices totally fell by nearly RMB350/t (USD51/t) in recent one month due to weakened demand from foundries.
Benxi Shentie owns an annual production capacity of 600,000t for S.G. cast iron and produced roughly 330,000t of the material in 2022. It recorded an output of nearly 120,000t so far this year, holding an inventory of almost 5,000t at present.
On Thursday, the mainstream price of S.G. cast iron Q10 in Benxi, Liaoning stood at around RMB3,450/t (USD499/t) EXW D/P, down by RMB20/t (USD3/t) from Wednesday. Given stagnant demand from end clients and falling prices of raw materials, S.G. cast iron prices would fall further in the coming week.
