Fushun Hanking to cut S.G cast iron production
2024-04-23 08:26:23 [Print]
BEIJING (Asian Metal) 23 Apr 24 - Fushun Hanking DRI Co. (Fushun Hanking), a major S.G. cast iron producer in Northeast China, would cut the output to about 80,000t this month.
"We would reduce the production of S.G cast iron by about 6,000t MoM to around 80,000t in April due to decreased orders," said a source of the company, adding that they still have zero inventory at present, unchanged from last month.
With an annual production capacity of about one million tonnes of S.G. cast iron, the company produced around 900,000t in 2023 and about 216,000t in Q1 of this year.
The current mainstream prices of S.G. cast iron Q10 stand at RMB3,350-3,400/t (USD462-469/t) Inc-VAT EXW D/P in Fushun, up by RMB100/t (USD14/t) compared with those of last week. Insiders predict that Chinese S.G. cast iron prices would rise further in the coming week mainly supported by higher raw material prices.
"We would reduce the production of S.G cast iron by about 6,000t MoM to around 80,000t in April due to decreased orders," said a source of the company, adding that they still have zero inventory at present, unchanged from last month.
With an annual production capacity of about one million tonnes of S.G. cast iron, the company produced around 900,000t in 2023 and about 216,000t in Q1 of this year.
The current mainstream prices of S.G. cast iron Q10 stand at RMB3,350-3,400/t (USD462-469/t) Inc-VAT EXW D/P in Fushun, up by RMB100/t (USD14/t) compared with those of last week. Insiders predict that Chinese S.G. cast iron prices would rise further in the coming week mainly supported by higher raw material prices.
