Linyi Meide Gengchen to raise S.G. cast iron output
2024-03-12 08:27:06 [Print]
BEIJING (Asian Metal) 12 Mar 24 - Linyi Meide Gengchen Metal Materials Co. (Linyi Meide Gengchen), a major S.G. cast iron producer in Shandong, would expand the production to about 83,000t this month.
"We resumed the other blast furnace after the Spring Festival holiday and would raise the output of S.G cast iron from about 50,000t in February to around 83,000t in March due to the increased supply of raw materials," said a source of the company. In addition, they hold a stockpile of about 40,000t in hand at present, up by around 12,000t MoM.
Based on the annual production capacity of about one million tonnes of S.G. cast iron, the company witnessed an output of around 930,000t last year and produced about 105,000t in Jan-Feb of 2024.
The mainstream prices of S.G. cast iron Q10 stay at about RMB3,500-3,550/t (USD487-494/t) Inc-VAT EXW D/P in Linyi at present, similar to those of last week. Insiders expect Chinese S.G. cast iron prices to go down slightly in the coming week on weak demand and decreased raw material prices.
"We resumed the other blast furnace after the Spring Festival holiday and would raise the output of S.G cast iron from about 50,000t in February to around 83,000t in March due to the increased supply of raw materials," said a source of the company. In addition, they hold a stockpile of about 40,000t in hand at present, up by around 12,000t MoM.
Based on the annual production capacity of about one million tonnes of S.G. cast iron, the company witnessed an output of around 930,000t last year and produced about 105,000t in Jan-Feb of 2024.
The mainstream prices of S.G. cast iron Q10 stay at about RMB3,500-3,550/t (USD487-494/t) Inc-VAT EXW D/P in Linyi at present, similar to those of last week. Insiders expect Chinese S.G. cast iron prices to go down slightly in the coming week on weak demand and decreased raw material prices.
