SHANGHAI, Feb 21 (SMM) - After the Chinese New Year, the prices of cold-rolled coil rose after falling while the overall operating rates of galvanised plate enterprises did not increase amid the strong ferrous metal market.
In terms of regions, the galvansed plate manufacturers in Guan County, Liaocheng, Shandong performed well under the support of the government. Some of the large factories continued to produce at full capacity, and the average operating rate of small and medium-sized manufacturers was as high as 80-90%. In Hebei area, the overall operating rate remained high, driven by large-scale manufacturers with government guarantees for employment and new projects. The operating rate of large enterprises was about 80%, but that of small and medium-sized manufacturers maintained at around 60%. In Jiangsu, Zhejiang and Yangtze River Delta regions, the overall operating rate was lower than that in the north as the peak season has not arrived yet.
The rising inventory in the south and north regions caused by weak demand also weighed on the operating rates. At the same time, due to the difficulty in transportation, most galvanised plate manufacturers still had some undelivered stocks. In addition, most manufacturers restocked before the Chinese New Year. Under the combined influence, the overall finished product inventory stabilised at one million mt.
To sum up, the production performance of galvanised plate enterprises was relatively flat after the Chinese New Year. Even if the terminal consumption improves in the short term, the operating rate is unlikely to increase amid high inventory.
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