Jiyuan Steel to increase rebar production

BEIJING (Asian Metal) 19 Apr 24 - Jiyuan Iron and Steel Co.Asian Metal Copyright With an annual production capacity of about one million tonnes of rebar, the company saw an output of around 820,000t last year and produced about 190,000t in the first quarter of this year.Asian Metal Copyright (Jiyuan Steel), a major rebar producer in Henan, would expand the production from about 40,000t in March to around 75,000t in April.

"We would raise the output of rebar by about 35,000t MoM to around 75,000t in April because of the increased raw material supply," said a source of the company, adding that they have a stockpile of about 7,000t in hand at present, down from around 30,000t in March.

With an annual production capacity of about one million tonnes of rebar, the company saw an output of around 820,000t last year and produced about 190,000t in the first quarter of this year.

The mainstream prices of rebar HRB400E Φ20-22mm stood at about RMB3,620/t (USD500/t) D/P in warehouse Zhengzhou on Thursday, up by RMB20/t (USD3/t) compared with those on Wednesday. Insiders expect Chinese rebar prices to drop slightly in the coming week on soft demand.


.Asian Metal Copyright "We would raise the output of rebar by about 35,000t MoM to around 75,000t in April because of the increased raw material supply," said a source of the company, adding that they have a stockpile of about 7,000t in hand at present, down from around 30,000t in MarchAsian Metal Copyright