Huawei Steel to suspend plate production
2024-05-01 09:33:07 [Print]
BEIJING (Asian Metal) 1 May 24 - Huawei Special Steel Plate Co. (Huawei Steel), one of the major steel plate producers in East China, will halt the only 2,500mm steel plate production line on May 1 and resume production on May 9, with the output to reduce by about 1,700t a day.
"We plan to take the 8-day annual facility maintenance on the only steel plate production line in early May, and the output in May would witness the MoM decline of 13,500t MoM to 35,000t," stated a sales official from Huawei Steel. In the meantime, the source points out that the mill keeps ex-works prices of steel plate flat on Tuesday, with those of Q235B 14-25mm at RMB3,880/t (USD536/t) D/P. Presently, the mill holds more or less 20,000t in inventory.
The current mainstream price of steel plate Q235B 14-25mm hovers at RMB3,840/t (USD531/t) D/P in warehouse Shanghai, similar to Tuesday. End users strictly purchase from hand to mouth, believing prices of steel plate powerless to go up, while they usually build stocks in the correspond period of past years.
Based on an annual production capacity of 600,000t, Huawei Steel recorded the output of around 140,000t in the first four months of 2024 and 585,000t in 2023.
"We plan to take the 8-day annual facility maintenance on the only steel plate production line in early May, and the output in May would witness the MoM decline of 13,500t MoM to 35,000t," stated a sales official from Huawei Steel. In the meantime, the source points out that the mill keeps ex-works prices of steel plate flat on Tuesday, with those of Q235B 14-25mm at RMB3,880/t (USD536/t) D/P. Presently, the mill holds more or less 20,000t in inventory.
The current mainstream price of steel plate Q235B 14-25mm hovers at RMB3,840/t (USD531/t) D/P in warehouse Shanghai, similar to Tuesday. End users strictly purchase from hand to mouth, believing prices of steel plate powerless to go up, while they usually build stocks in the correspond period of past years.
Based on an annual production capacity of 600,000t, Huawei Steel recorded the output of around 140,000t in the first four months of 2024 and 585,000t in 2023.
