Lengshuijiang Steel to increase construction steel output
2024-04-29 08:12:32 [Print]
BEIJING (Asian Metal) 29 Apr 24 - Lengshuijiang Iron and Steel Co. (Lengshuijiang Steel), a major construction steel producer in Hunan, would expand the production by about 20,000t MoM to around 120,000t this month, says a source of the company.
"We would raise the output of construction steel from about 100,000t in March to around 120,000t this month due to the increased supply of raw materials and more orders," explains the source. According to him, they have no spot materials in hand now, in line with last month.
Based on the annual production capacity of about 3.5 million tonnes of construction steel, Lengshuijiang Steel produced approximately 1.95 million tonnes last year and about 345,000t in Q1 of this year.
The mainstream prices of rebar HRB400 Φ18mm remain at around RMB3,710/t (USD512/t) D/P in warehouse Changsha at present, unchanged from last weekend. Insiders expect Chinese rebar prices to go down in the coming week on weak demand.
"We would raise the output of construction steel from about 100,000t in March to around 120,000t this month due to the increased supply of raw materials and more orders," explains the source. According to him, they have no spot materials in hand now, in line with last month.
Based on the annual production capacity of about 3.5 million tonnes of construction steel, Lengshuijiang Steel produced approximately 1.95 million tonnes last year and about 345,000t in Q1 of this year.
The mainstream prices of rebar HRB400 Φ18mm remain at around RMB3,710/t (USD512/t) D/P in warehouse Changsha at present, unchanged from last weekend. Insiders expect Chinese rebar prices to go down in the coming week on weak demand.
