Baotou Steel enlarges HRC output
2024-04-12 08:33:36 [Print]
BEIJING (Asian Metal) 12 Apr 24 - Baotou Iron and Steel Group Co. (Baotou Steel), the largest HRC producer in Inner Mongolia, estimates that the output of HRC would reach 400,000t in April, up from 320,000t in March.
"We run both HRC production lines (1,780mm, 2,250mm) with full production capacity this month, while halted the 1,780mm line for around 10-day in late Mach. As a consequence, the output in April might see the MoM rise of 80,000t to 400,000t," revealed a sales official from Baotou Steel. In the meantime, the source reveals that the sales pressure eased gradually this month following the price rebound. However, upon the relatively low demand from downstream industries, he shows little confidence in the market prospect.
Reporting an annual production capacity of 7.2 million tons, Baotou Steel recorded the output of approximately 3.9 million tons in 2023 and 1.04 million tons in the first three months of 2024. The mill holds no inventory for the moment.
Currently, the prevailing price of HRC Q235B 4.75mm*1,500mm*C hovers at RMB3,750/t (USD518/t) D/P in warehouse Tianjin, similar to Wednesday. The market performance weakens gradually dragged by the soft demand, and end users remain not in a hurry in purchasing, believing prices of HRC would enter the downward trend again.
"We run both HRC production lines (1,780mm, 2,250mm) with full production capacity this month, while halted the 1,780mm line for around 10-day in late Mach. As a consequence, the output in April might see the MoM rise of 80,000t to 400,000t," revealed a sales official from Baotou Steel. In the meantime, the source reveals that the sales pressure eased gradually this month following the price rebound. However, upon the relatively low demand from downstream industries, he shows little confidence in the market prospect.
Reporting an annual production capacity of 7.2 million tons, Baotou Steel recorded the output of approximately 3.9 million tons in 2023 and 1.04 million tons in the first three months of 2024. The mill holds no inventory for the moment.
Currently, the prevailing price of HRC Q235B 4.75mm*1,500mm*C hovers at RMB3,750/t (USD518/t) D/P in warehouse Tianjin, similar to Wednesday. The market performance weakens gradually dragged by the soft demand, and end users remain not in a hurry in purchasing, believing prices of HRC would enter the downward trend again.
