Xinhua Silk Road: Xinhua-Dingxiang Flange Price Index officially released in N.China's Shanxi Province

BEIJING, July 5, 2023 /PRNewswire/ -- The Xinhua Index Team of the Xinhua News Agency has recently launched the "Xinhua·Dingxiang Flange Price Index" in Dingxiang County, north China's Shanxi Province.

Comprising three sub-indices, the index represents the significant forgings volumes from Dingxiang County for wind power flanges, engineering machinery forgings, and petrochemical flanges. With wind power generation achieving increased prominence in the new energy industry in recent years, attention to wind power flanges has similarly grown, with prices substantially influenced by seasonal and policy factors.

In 2021, due to the expiration of policy subsidies, turbine manufacturers rushed to install wind power groups, causing wind power flange prices to reach their highest point since November 2021. Analysts forecast that the sector are poised for another shipment peak this coming summer, with this year's flange shipment volume projected to be the highest in the past three years.

From a macro-market perspective, the development 5prospects for flanges remain stable and promising, buoyed by the continuous advancement of downstream infrastructure. From 2013 to 2022, the average annual growth rate of installed capacity for wind turbine generators was 19 percent, while from 2012 to 2021, the average annual growth rate of the mileage of petrochemical transmission pipelines remained above 4 percent.

Notably, Dingxiang, one of the first ten key professional towns in Shanxi province, boasts a long history of forging. Flange forging has become its traditional, unique, advantageous, leading, and livelihood industry.

In 2022, the total production of Dingxiang flanges reached approximately 1.2 million tonnes, with an annual production capacity of 1.4 million tonnes, achieving a total output value of 14.2 billion yuan. In addition to wind power flanges, engineering machinery flanges accounted for 65 percent of national production.

Original link: https://en.imsilkroad.com/p/334940.html