By Paul Lim / June 18, 2018 / www.metalbulletin.com /
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China's Laigang Yongfeng will increase its capacity by 1.87 million tpy with the addition of two continuous casters.
The two continuous casters will be installed at its Dezhou facility to add on to a new electric-arc furnace. The new mill will produce 870,000 tpy of different
"special bar quality" (SBQ) steel grades, including bearing steel. It wil also produce 1 million tpy of rebar, equipment maker SMS Concast said.
Billets measuring 165 millimeters square will be processed into bars and wire rod.
Metal Bulletin's assessment of domestic prices for north China billet was at 3,720 yuan ($577) per tonne on Friday June 15, up from 3,700 yuan per tonne from the previous week. Domestic prices for rebar in east China was at 4,140-4,180 yuan per tonne on the same day, up from 4,040-4,070 yuan per tonne on June 8.
Laigang Yongfeng Steel is a subsidiary of Yong Feng Group. It is an integrated mill with 5 million tpy of capacity, mainly long steel products such as rebar and wire rod.
According to the company, the long steel products are exported to global markets such as Hong Kong, Myanmar, Pakistan, Dubai and South Africa.