Dazhou Steel to reduce construction steel output
2024-04-10 08:18:46 [Print]
BEIJING (Asian Metal) 10 Apr 24 - Sichuan Dazhou Iron and Steel Co. (Dazhou Steel), one of the major construction steel producers in Southwest China, would reduce the production by about 20,000t MoM to around 270,000t this month, said a source of the company.
"Because of decreased orders, we might just produce about 270,000t of construction steel in April, down from around 290,000t in March," revealed the source. According to him, they still have no stock in hand for the time being, in line with last month.
With an annual production capacity of around 3.5 million tonnes of construction steel, the company witnessed an output of about 3.34 million tonnes in 2023 and produced around 835,000t in Q1 of this year.
The mainstream prices of rebar HRB400E Φ20mm rose to about RMB3,450/t (USD477/t) in Chengdu on Tuesday, up by RMB30/t (USD4/t) from Monday. Insiders predict that Chinese construction steel prices would lack momentum to go up further in the coming week on soft demand.
"Because of decreased orders, we might just produce about 270,000t of construction steel in April, down from around 290,000t in March," revealed the source. According to him, they still have no stock in hand for the time being, in line with last month.
With an annual production capacity of around 3.5 million tonnes of construction steel, the company witnessed an output of about 3.34 million tonnes in 2023 and produced around 835,000t in Q1 of this year.
The mainstream prices of rebar HRB400E Φ20mm rose to about RMB3,450/t (USD477/t) in Chengdu on Tuesday, up by RMB30/t (USD4/t) from Monday. Insiders predict that Chinese construction steel prices would lack momentum to go up further in the coming week on soft demand.
