Zhaobo Industrial suspends HR strip production
2024-03-13 08:23:55 [Print]
BEIJING (Asian Metal) 13 Mar 24 - Tianjin Zhaobo Industrial Co. (Zhaobo Industrial), a major producer of HR strip in Tianjin, stopped the production on March 9th with a daily output decrease of around 2,000t, said a source of the company.
"We suspended the production on March 9th because of the increased stockpile and the continuous price decrease these days and might restart the production late this month," explained the source, adding that he reduced the price by a total of RMB240/t (USD33/t) after the Spring Festival holiday. Besides, they have an inventory of about 15,000t in hand now against zero stock last month.
Based on one HR strip production line of 650mm rolling mill and the annual production capacity of about 800,000t, the company produces HR strip with the width of 180-413mm and thickness of 1.5-5.75mm. They produced around 430,000t of HR strip last year and about 22,000t in Jan-Feb of 2024.
The mainstream prices of HR strip Q195 235mm*2.5mm*C from Zhaobo Industrial fell to about RMB3,730/t (USD520/t) D/P in warehouse Tianjin on Tuesday, down by RMB20/t (USD3/t) from Monday. Insiders predict that Chinese HR strip prices would slide further in the coming week discouraged by weak demand and decreased raw material prices.
"We suspended the production on March 9th because of the increased stockpile and the continuous price decrease these days and might restart the production late this month," explained the source, adding that he reduced the price by a total of RMB240/t (USD33/t) after the Spring Festival holiday. Besides, they have an inventory of about 15,000t in hand now against zero stock last month.
Based on one HR strip production line of 650mm rolling mill and the annual production capacity of about 800,000t, the company produces HR strip with the width of 180-413mm and thickness of 1.5-5.75mm. They produced around 430,000t of HR strip last year and about 22,000t in Jan-Feb of 2024.
The mainstream prices of HR strip Q195 235mm*2.5mm*C from Zhaobo Industrial fell to about RMB3,730/t (USD520/t) D/P in warehouse Tianjin on Tuesday, down by RMB20/t (USD3/t) from Monday. Insiders predict that Chinese HR strip prices would slide further in the coming week discouraged by weak demand and decreased raw material prices.
