Lingyuan Steel to increase the production of construction steel
2024-04-24 08:20:18 [Print]
BEIJING (Asian Metal) 24 Apr 24 - Lingyuan Iron and Steel Co. (Lingyuan Steel), a major construction steel producer in Liaoning, would expand the production to around 130,000t in April.
"We would raise the output of construction steel from about 100,000t in March to around 130,000t in April due to the increased supply of raw materials," says a source of the company, who also tells that they have a stockpile of about 10,000t in hand at present, similar to that of last month.
Based on the annual production capacity of about 2.5 million tonnes of construction steel, the company witnessed an output of around 2.44 million tonnes in 2023 and produced about 400,000t in Q1 of 2024.
The mainstream prices of rebar HRB400E Φ20mm from Lingyuan Steel stood at about RMB3,720/t (USD513/t) in Beijing on Tuesday, the same as those on Monday. Insiders predict that Chinese rebar prices might go down slightly in the coming week on soft demand.
"We would raise the output of construction steel from about 100,000t in March to around 130,000t in April due to the increased supply of raw materials," says a source of the company, who also tells that they have a stockpile of about 10,000t in hand at present, similar to that of last month.
Based on the annual production capacity of about 2.5 million tonnes of construction steel, the company witnessed an output of around 2.44 million tonnes in 2023 and produced about 400,000t in Q1 of 2024.
The mainstream prices of rebar HRB400E Φ20mm from Lingyuan Steel stood at about RMB3,720/t (USD513/t) in Beijing on Tuesday, the same as those on Monday. Insiders predict that Chinese rebar prices might go down slightly in the coming week on soft demand.
