China EMM output in October and forecast for November

Published: Nov 9, 2023 18:15

Source: SMM

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SMM data shows that in October 2023, China's EMM production was 97,200 mt, up 20.07% MoM and 104.51% YoY.

SMM data shows that in October 2023, China's EMM production was 97,200 mt, up 20.07% MoM and 104.51% YoY. Total EMM production from January to October 2023 was approximately 873,900 mt, up 44.99% YoY. October's production increase was mainly due to suppliers setting EMM prices based on market conditions and scheduling 70% monthly production capacity. Any shortfall wasn't replenished, and if full-month production occurred, nine days' output would go to the public warehouse at 9,000 yuan/mt. Overall crude stainless steel production decreased in October, primarily due to falling Series 300 stainless steel prices. The slim profit margin led some mills to halt or switch production, reducing overall output. However, the production shift increased Series 200 output, providing stable EMM demand support.

In November, a meeting decision ensured EMM factories maintain operating rates at 70%. Large factories in Guangxi and Hunan are resuming production, yet some are halting production due to operational pressures. Based on EMM factories' scheduled production, the estimated November output is about 98,600 mt.

Output

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

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