China stainless steel output shrinks 2.3% in Jun

SHANGHAI, Jul 8 (SMM) – China’s output of stainless steel came in at 2.34 million mt in June, down 2.34% from May but up 23.73% from June 2018, showed an SMM survey.

Cost concerns and weaker orders drove some mills to scale back operations in June, resulting in a decline of 2.76% in output of 300-series materials last month, which stood at 1.13 million mt.

Output of the #200 series shrank 2% month on month to 883,000 mt, lowered by maintenance at southern mills. Output of the #400 series fell 1.95% to 428,500 mt.

Output of stainless steel across China is expected to expand to 2.5 million mt in July, with that the #300 series up 1.6% to 1.14 million mt. Output of the #300 series is estimated to gain 5.44% to 931,000 mt, while that of the #400 series will inch up 0.23% to 429,500 mt.