China-based stainless steel producer Ningbo Baoxin reported a monthly output of 63,500mt in August, up by 127pc from its average monthly output, hitting a new high. The August output leapt ahead of previous highest output capacity recorded in May 2018.
The company has revised its production guidance for 2020 to 700,000mt after hitting record production in August.
The number of orders received in July, August and September were noted to be historic highs, stated the company. The company seized the opportunity in the post-pandemic market, essentially in the second half of the year.
The record production in August is on the back of Ningbo Baoxin timely plan of carrying out special labour tasks of working under high temperatures. The company set a daily goal of increasing production by one roll per machine, said the company. Improvement in efficiency coupled with increased capacity will help the company achieve its annual target of 700,000mt in 2020.