Handan Steel stops selling carbon steel plate
2024-03-29 08:36:09 [Print]
BEIJING (Asian Metal) 29 Mar 24 - Handan Iron and Steel Co
"Supported by the improving demand from downstream industries, we refused to sign carbon steel orders in April, and will contract 50% of low-alloy steel plate orders and 50% of fine steel, while we signed about 10% of carbon steel plate orders in March," revealed a sales official from Handan Steel. Meanwhile, the source disclosed that end users became more active in purchasing in recent two weeks upon the stabilized price signal . The mill plans to produce 150,000t of steel plate in April, similar to March.
Reporting an annual production capacity of 2.8 million tons for two lines (2,800mm, 3,500mm), Handan Steel predicts to produce about 440,000t of steel plate in the first quarter of 2024 . It does not hold any stocks for the moment.
Presently, the mainstream price of steel plate Q235B 14-25mm hovers at RMB3,750/t (USD519/t) D/P in warehouse Handan, Hebei, down by RMB10/t (USD1.4/t) from Wednesday . Traders reported less satisfactory sales performance this week compared with last week following the weakening prices, but participants did not expect for a large price drop in the coming month.
. (Handan Steel), a subsidiary of Hebei Iron and Steel Group (HBIS), only signs orders of low-alloy steel plate and fine steel in April, while the mill contracted about 15,000t of carbon steel plate orders in March.
"Supported by the improving demand from downstream industries, we refused to sign carbon steel orders in April, and will contract 50% of low-alloy steel plate orders and 50% of fine steel, while we signed about 10% of carbon steel plate orders in March," revealed a sales official from Handan Steel. Meanwhile, the source disclosed that end users became more active in purchasing in recent two weeks upon the stabilized price signal . The mill plans to produce 150,000t of steel plate in April, similar to March.
Reporting an annual production capacity of 2.8 million tons for two lines (2,800mm, 3,500mm), Handan Steel predicts to produce about 440,000t of steel plate in the first quarter of 2024 . It does not hold any stocks for the moment.
Presently, the mainstream price of steel plate Q235B 14-25mm hovers at RMB3,750/t (USD519/t) D/P in warehouse Handan, Hebei, down by RMB10/t (USD1.4/t) from Wednesday . Traders reported less satisfactory sales performance this week compared with last week following the weakening prices, but participants did not expect for a large price drop in the coming month.