Handan Steel to suspend plate production
2024-04-19 08:34:30 [Print]
BEIJING (Asian Metal) 19 Apr 24 - Handan Iron and Steel Co. (Handan Steel), a subsidiary of Hebei Iron and Steel Group (HBIS), will halt the 3,500mm steel plate production line for four days in early May, with the output to cut by around 5,000t a day.
"We will conduct the 4-day annual facility maintenance on the 3,500mm line in early May, and thus the output in May would see the MoM decline of 20,000t to 130,000t. Besides, we halted the 2,800mm line in November 2022 and do not plan to restart it this year," stated a sales official from Handan Steel. Benefited from the reduced supply, Handan Steel does not burden with any sales pressure and has finished the sales target for May production till now.
Based on an annual production capacity of 2.8 million tons for two lines (2,800mm, 3,500mm), Handan Steel recorded the output of 440,000t in the first quarter of 2024. The output in April would achieve about 150,000t, similar to March. The mill holds no inventory right now.
The current prevailing price of steel plate Q235B 14-25mm stands at RMB3,810/t (USD526/t) D/P in warehouse Handan, Hebei, up by RMB10/t (USD1.4/t) from Wednesday. The demand from downstream industries improves gradually and the market performance recovers, together with the prices rebound of raw materials, stimulating traders to lift prices of steel plate.
"We will conduct the 4-day annual facility maintenance on the 3,500mm line in early May, and thus the output in May would see the MoM decline of 20,000t to 130,000t. Besides, we halted the 2,800mm line in November 2022 and do not plan to restart it this year," stated a sales official from Handan Steel. Benefited from the reduced supply, Handan Steel does not burden with any sales pressure and has finished the sales target for May production till now.
Based on an annual production capacity of 2.8 million tons for two lines (2,800mm, 3,500mm), Handan Steel recorded the output of 440,000t in the first quarter of 2024. The output in April would achieve about 150,000t, similar to March. The mill holds no inventory right now.
The current prevailing price of steel plate Q235B 14-25mm stands at RMB3,810/t (USD526/t) D/P in warehouse Handan, Hebei, up by RMB10/t (USD1.4/t) from Wednesday. The demand from downstream industries improves gradually and the market performance recovers, together with the prices rebound of raw materials, stimulating traders to lift prices of steel plate.
