Puyang Steel to decrease HR strip production
2024-04-23 08:26:20 [Print]
BEIJING (Asian Metal) 23 Apr 24 - Puyang Iron and Steel Co. (Puyang Steel), one of the major HR strip producers in Hebei, would reduce the output to about 220,000t in April, said a source of the company.
"We would cut the production of HR strip by about 110,000t MoM to around 220,000t this month due to the decreased supply of raw materials," explained the source. According to him, they have zero stock in hand at present, unchanged from last month.
Based on one HR strip production line of 1,250mm rolling mill and the annual production capacity of about five million tonnes, Puyang Steel produces HR strip with the width of 865-1,260mm. The company recorded an output of around 3.77 million tonnes of HR strip in 2023 and produced approximately 950,000t in the first quarter of this year.
The mainstream prices of HR strip SPHC 1,010mm*3.0mm*C from Puyang Steel hovered at RMB3,790/t (USD523/t) D/P in warehouse Handan on Monday, similar to those of last Friday. Insiders predict that Chinese HR strip prices would go down in the coming week on weak demand.
"We would cut the production of HR strip by about 110,000t MoM to around 220,000t this month due to the decreased supply of raw materials," explained the source. According to him, they have zero stock in hand at present, unchanged from last month.
Based on one HR strip production line of 1,250mm rolling mill and the annual production capacity of about five million tonnes, Puyang Steel produces HR strip with the width of 865-1,260mm. The company recorded an output of around 3.77 million tonnes of HR strip in 2023 and produced approximately 950,000t in the first quarter of this year.
The mainstream prices of HR strip SPHC 1,010mm*3.0mm*C from Puyang Steel hovered at RMB3,790/t (USD523/t) D/P in warehouse Handan on Monday, similar to those of last Friday. Insiders predict that Chinese HR strip prices would go down in the coming week on weak demand.
