The biggest blast furnace of northeastern China’s Benxi Iron & Steel (Bengang) and 2nd largest in China caught fire today morning. The blast furnace having volume of 4,747 cubic metres produces nearly 9,000-10,000 MT hot metal per day.
As per reports, the furnace would be put under maintenance from now onwards and is expected to take nearly six-months to resume operations.
Bengang Steel Plates Co., Ltd is a subsidiary of Benxi Steel Group Corporation Bengang Steel Plates provides steel plates, steel billets and other products. The company distributes its products in domestic markets and to overseas markets, with east China, northeast China and north China as its major markets.
Bengang produced 6.32 MnT of hot rolled flat steel in H1 CY17, up 15.6% Y-o-Y, and 2,85 MnT cold rolled flat steel, up 53.8%.
The steel maker had announced increase in its flat steel prices by USD 52-60/MT for September.
As an impact of fire breakout, Chinese steel futures climbed in early morning trading sessions Januaw HRC futures climbed up by about Yuan 138/MT to Yuan 4,204/MT.
Steel prices in China are likely to remain strong and less supply may further push steel prices in the near term.
Source Steel Mint powered by Keyvan Jafari Tehrani
