Baotou Steel to reduce HRC ( hot rolled coil steel) output
BEIJING (Asian Metal) 22 Jan 19 –
Baotou Iron and Steel Group Co., Ltd. (Baotou Steel) estimates that the output for January will be about 300,000t, lower than that of 350,000t in
“It’s a little bit hard to contract orders now due to end users and traders’ wait-and-see attitudes. We estimate that the output for HRC in January will be cut by about 14% MOM,” a sales official from Baotou Steel told Asian Metal. “Though most producers will contract orders for both February and March production within January, we decided to sign orders for February production only,”
said the source, adding that Baotou Steel has to enlarge discounts to attract customers to place orders for March production, but the mill has already suffered and is reluctant to cut prices again. With an annual production capacity of 7.8 million tons, Baotou Steel holds zero stock for the moment.
On Monday, the price of Q235B 5.5mm*1,500mm*C from Baotou Steel was RMB3,650/t (USD537/t), similar to last Friday.
Date: 2019-01-22 08:28:02
Source: Asian Metal
Author: Aisin Metal