SHANGHAI, Mar 14 (SMM) – China produced some 1.98 million mt of stainless steel in February, down 0.83% on the month and down 8.88% on the year, as CNY maintenance at a large producer in the south affected output of #300 series, an SMM survey found.
In February, output of #300 series stainless steel shrank 1.19% from January, to stand at 956,000 mt, showed SMM data. Repair on production lines of hot-rolled stainless steel in the south also lowered output.
Output of the #400 series decreased 5.1% month on month and came in at 403,800 mt in February. Production of #200 series also dropped 2.78%, to 616,700 mt during the same period.
For March, output of stainless steel is likely to rebound to 2.33 million mt as higher profits of #300 series drive producers in the south to accelerate operation.
SMM expects output of #300 series products to jump 25% on the month, to nearly 1.2 million mt in March. Production of #200 series will rise 17.99% to 735,000 mt, while output of #400 stainless steel may dip 0.33% to 402,500 mt.