Anyang Steel suspends CRC production
2024-04-25 08:33:45 [Print]
BEIJING (Asian Metal) 25 Apr 24 - Anyang Iron and Steel Co. (Anyang Steel), the leading CRC producer in Henan, halted CRC production on April 22, and will resume production on April 26, with the output to reduce by about 2,000t a day.
"We suspended CRC production temporarily and transferred iron melt supply to the HRC production this week," disclosed a sales official from Anyang Steel. According to him, the profits for CRC narrow gradually with the gap between CRC and HRC dropping to below RMB400/t (USD55/t). Besides, the demand for CRC remains soft. Facing both the sales and cost pressures, the mill tends to slow down CRC production, and might just produce 40,000t of CRC in May, down from 50,000t in April, while it produced 70,000t of CRC in March.
Reporting an annual production capacity of 1.4 million tons for the only CRC production line, Anyang Steel recorded the output of about 1.3 million tons in 2023 and plans to produce steadily in 2024. It roughly produced 180,000t of CRC from January to March of 2024, holding zero stock for the moment.
Currently, the mainstream price of CRC DC01 1.0mm*1,250mm*C hovers at RMB4,150/t (USD573/t) D/P in warehouse Anyang, down by RMB20/t (USD2.8/t) compared with Tuesday. End users strictly buy from hand to mouth this week after the active purchase in the past two weeks, and the market runs slowly.
"We suspended CRC production temporarily and transferred iron melt supply to the HRC production this week," disclosed a sales official from Anyang Steel. According to him, the profits for CRC narrow gradually with the gap between CRC and HRC dropping to below RMB400/t (USD55/t). Besides, the demand for CRC remains soft. Facing both the sales and cost pressures, the mill tends to slow down CRC production, and might just produce 40,000t of CRC in May, down from 50,000t in April, while it produced 70,000t of CRC in March.
Reporting an annual production capacity of 1.4 million tons for the only CRC production line, Anyang Steel recorded the output of about 1.3 million tons in 2023 and plans to produce steadily in 2024. It roughly produced 180,000t of CRC from January to March of 2024, holding zero stock for the moment.
Currently, the mainstream price of CRC DC01 1.0mm*1,250mm*C hovers at RMB4,150/t (USD573/t) D/P in warehouse Anyang, down by RMB20/t (USD2.8/t) compared with Tuesday. End users strictly buy from hand to mouth this week after the active purchase in the past two weeks, and the market runs slowly.
