SHANGHAI, May 19 (SMM) – Inventories of finished goods at several domestic stainless steel plants are high, Shanghai Metals Market survey finds.
The surveyed mills include several large private mills in east and south China.
Stainless Steel Prices to Keep Falling on Inventory Pressures, SMM Reports
Inventories of finished goods at one of surveyed private plants are sufficient for one-month production, and the plant told SMM that sales were poor.
Another stainless steel mill in Fujian now holds half-a-month inventories after production cuts, down from more than one-month level seen in late April.
Poor Demand for Stainless Steel Triggers Production Shift
State-owned stainless steel plants, however, have no big inventory pressures, holding normal volumes, according to SMM survey.
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