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Chinese steel majors adjust production for quake relief

By unknow , 2008-06-06 12:00:00

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It is reported that in order to meet the urgent demand for galvanized plate and color coated sheet for building movable houses in the quake hit areas, major steel makers in China have actively adjusted their production, focusing on producing color coated sheet.

China's largest steel maker Baosteel has put all of its three color coated sheet production line into full load production, producing 600 tonnes of sheets daily on average, the peak level of the production line. It has suspended the export of color coated sheet and maintained the price unchanged to ensure the supply, despite of the big rise of raw materials and fuels. In a bid to not touch off a price wave of rolled steel, Baosteel Group has also decided to delay the release of its price adjustments in the coming quarter, which had been scheduled for May 20th 2008.

Another large steel maker, Wuhan Iron and Steel Corporation is working on producing 20,000 tons of color coated sheets to support the reconstruction of the quake hit areas.

Meanwhile, Panzhihua Iron and Steel Corporation, the large steel make located in Sichuan has gradually resumed production since May 22nd 2008. With the gradual recovery of Pangang's production capacity, the price hike of rolled steel triggered off by the quake in Sichuan will be obviously checked in the near future.

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