Jilin Jianlong Steel increases HRC output
2024-04-24 08:30:37 [Print]
BEIJING (Asian Metal) 24 Apr 24 - Jilin Jianlong Iron and Steel Co. (Jilin Jianlong Steel), one of the major HRC producers in Northeast China, estimates that the output of HRC would achieve about 370,000t in April, up from 350,000t in March.
"Benefited from the recovering profits, we expand the HRC production this month, and the output of HRC would witness the MoM rise of 20,000t to 370,000t in April," disclosed a sales official from Jilin Jianlong Steel. According to him, orders for fine steel remain insufficient, but the purchasing activities from traders for ordinary grades increase gradually, which stimulates the mill to hike production to some degree.
Based on an annual production capacity of 4.2 million tons for the only 1,450mm HRC production line, Jilin Jianlong Steel recorded the output of approximately 3.4 million tons in 2023 and 0.95 million tons in the first quarter of 2024. It holds no stock right now.
Presently, the mainstream price of HRC Q235B 5.75mm*1,500mm*C hovers at RMB3,790/t (USD523/t) D/P in warehouse Shenyang, Liaoning, similar to Monday. Both traders and end users adopt wait-and-see attitudes towards the market prospect upon the rising prices of raw materials and the insufficient demand from downstream industries.
"Benefited from the recovering profits, we expand the HRC production this month, and the output of HRC would witness the MoM rise of 20,000t to 370,000t in April," disclosed a sales official from Jilin Jianlong Steel. According to him, orders for fine steel remain insufficient, but the purchasing activities from traders for ordinary grades increase gradually, which stimulates the mill to hike production to some degree.
Based on an annual production capacity of 4.2 million tons for the only 1,450mm HRC production line, Jilin Jianlong Steel recorded the output of approximately 3.4 million tons in 2023 and 0.95 million tons in the first quarter of 2024. It holds no stock right now.
Presently, the mainstream price of HRC Q235B 5.75mm*1,500mm*C hovers at RMB3,790/t (USD523/t) D/P in warehouse Shenyang, Liaoning, similar to Monday. Both traders and end users adopt wait-and-see attitudes towards the market prospect upon the rising prices of raw materials and the insufficient demand from downstream industries.
