Production cuts lower #300 stainless steel output in Nov

SHANGHAI, Dec 12 (SMM) – Production cuts at a stainless steel mill in south China is likely to lower output of #300 stainless steel by 3.12% from October, to 1.17 million mt in November, an SMM survey found. 

Fresh cuts across other southern mills are expected to further weigh output of #300 stainless steel to 1.1 million mt in December, down 6.27% on the month. 

At the end of November, social inventories of stainless steel expanded 1.37% to 370,000 mt. Stocks of the #300 series grew 11.6% to 234,000 mt, above the annual average of 221,000 mt, SMM data showed.