Xinjiang Kunyu Steel to increase rebar output
2024-04-12 08:23:05 [Print]
BEIJING (Asian Metal) 12 Apr 24 - Kunyu Iron and Steel Co. (Kunyu Steel), a major rebar producer in Xinjiang and a subsidiary of Shandong Shiheng Special Steel, would expand the production to about 90,000t in April, said a source of the company.
"We restarted the production on March 15th after the suspension last November and produced about 50,000t of rebar in March. The planned output for this month would reach around 90,000t," explained the source. According to him, they have a stockpile of about 55,000t in hand at present, up from around 30,000t last month.
Based on the annual production capacity of about two million tonnes of construction steel, the company recorded an output of around 800,000t in 2023 and produced about 50,000t in Q1 of 2024.
The mainstream prices of rebar HRB400E Φ18-20mm remained at around RMB3,510/t (USD485/t) in Xinjiang on Thursday, the same as those on Wednesday. Insiders predict that Chinese rebar prices might go down slightly in the coming days on weak demand.
"We restarted the production on March 15th after the suspension last November and produced about 50,000t of rebar in March. The planned output for this month would reach around 90,000t," explained the source. According to him, they have a stockpile of about 55,000t in hand at present, up from around 30,000t last month.
Based on the annual production capacity of about two million tonnes of construction steel, the company recorded an output of around 800,000t in 2023 and produced about 50,000t in Q1 of 2024.
The mainstream prices of rebar HRB400E Φ18-20mm remained at around RMB3,510/t (USD485/t) in Xinjiang on Thursday, the same as those on Wednesday. Insiders predict that Chinese rebar prices might go down slightly in the coming days on weak demand.
