Bayi Steel enlarges plate output
2024-04-09 08:20:26 [Print]
BEIJING (Asian Metal) 9 Apr 24 - Xinjiang Bayi Iron and Steel Co
"We run the only 3,500mm steel plate production line fully this month, and thus the output might witness the MoM increase of 10,000t to 100,000t in April," revealed a sales official from Bayi Steel. According to him, the demand from downstream industries recovered gradually since the middle of March, and the mill contracted sufficient orders for April production . Besides, the profits for steel plate remain the most considerable at the moment . The source foresees narrow price change of steel plate in the remainder of this month.
Based on an annual steel plate production capacity of 1.2 million tons, Bayi Steel produced about 1 . 2 million tons of steel plate in 2023 and 230,000t in the first quarter of 2024 . The mill does not hold any inventories for the moment.
Presently, the mainstream price of steel plate Q235B 14-25mm stands at RMB4,000/t (USD553/t) D/P in warehouse Urumqi, Xinjiang, similar to last Sunday. The market performance improves gradually as most participants expect stable prices in the following two or three weeks.
. (Bayi Steel), a subsidiary of China Baowu Steel Group Corporation Limited (Baowu Group), estimates that the output of steel plate would achieve about 100,000t in April, up from 90,000t in March.
"We run the only 3,500mm steel plate production line fully this month, and thus the output might witness the MoM increase of 10,000t to 100,000t in April," revealed a sales official from Bayi Steel. According to him, the demand from downstream industries recovered gradually since the middle of March, and the mill contracted sufficient orders for April production . Besides, the profits for steel plate remain the most considerable at the moment . The source foresees narrow price change of steel plate in the remainder of this month.
Based on an annual steel plate production capacity of 1.2 million tons, Bayi Steel produced about 1 . 2 million tons of steel plate in 2023 and 230,000t in the first quarter of 2024 . The mill does not hold any inventories for the moment.
Presently, the mainstream price of steel plate Q235B 14-25mm stands at RMB4,000/t (USD553/t) D/P in warehouse Urumqi, Xinjiang, similar to last Sunday. The market performance improves gradually as most participants expect stable prices in the following two or three weeks.