Stainless steel production up 1.94% in Oct

SHANGHAI, Nov 9 (SMM) – China produced some 2.23 million mt of stainless steel in October, up 1.94% from September and up 8.62% from a year ago, SMM research found. However, overall production in January-October dipped 0.42% from the same period last year to stand at 20.05 million mt, SMM data showed. 

Production cuts at two mills in the south lowered overall output of #200 series products in October, by 4.16% from September to 560,000 mt. One mill cut output of #200 stainless steel, on strategic and structural changes, while the other put furnaces into maintenance last month. 

Output of #300 series products rose 7.51% month on month and stood at 1.27 million mt in October. Resumption at a plant in the north and one in the east after maintenance accounted for the overall increase. In October, a mill in the south transferred part of its capacity to the production of #300 stainless steel, which also buoyed overall output. 

Production of #400 stainless steel grew 2.76% month on month in October as higher output in the north and east exceeded output cuts from maintenance. 

The end of maintenance is set to raise stainless steel production in November, SMM expects. Overall output is likely at 2.28 million mt this month, with 590,000 mt of #200 products, 1.29 million mt of #300 products, and 400,000 mt of #400 products.