Chinese Stainless Steel Producers Cut Production-Shanghai Metals Market

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Chinese Stainless Steel Producers Cut Production

SMM Insight 05:08:15PM Jul 09, 2012 Source:SMM

SHANGHAI, Jul. 9 (SMM) –Shanghai Baosteel Group plans to cut stainless steel output by around 18% during July, including output of both #200 and #300 stainless steel with the former slashed more than the latter. The group decides to buy merely about 100 mt of EMM in July, which can only meet demand of the stainless steel department. Henan Tsingshan Jinhui Stainless Steel Co., Ltd. plans maintenance for 1 furnace and will cut output by one thirds, which will require less than 3,000 mt of EMM from the normal nearly 4,000 mt level. Inner Mongolia Huaye Special Steel Co., Ltd. will conduct maintenance and thus its stainless steel output will fall by 50%, which needs less than 600 mt of EMM from earlier 1,200 mt level. Meanwhile, both Fujian Wuhang Stainless Steel Products Co., Ltd. and Lianzhong Stainless Steel Corporation reported slight cuts in stainless steel production during July.
 

Chinese Stainless Steel Producers Cut Production

SMM Insight 05:08:15PM Jul 09, 2012 Source:SMM

SHANGHAI, Jul. 9 (SMM) –Shanghai Baosteel Group plans to cut stainless steel output by around 18% during July, including output of both #200 and #300 stainless steel with the former slashed more than the latter. The group decides to buy merely about 100 mt of EMM in July, which can only meet demand of the stainless steel department. Henan Tsingshan Jinhui Stainless Steel Co., Ltd. plans maintenance for 1 furnace and will cut output by one thirds, which will require less than 3,000 mt of EMM from the normal nearly 4,000 mt level. Inner Mongolia Huaye Special Steel Co., Ltd. will conduct maintenance and thus its stainless steel output will fall by 50%, which needs less than 600 mt of EMM from earlier 1,200 mt level. Meanwhile, both Fujian Wuhang Stainless Steel Products Co., Ltd. and Lianzhong Stainless Steel Corporation reported slight cuts in stainless steel production during July.