China stainless steel production inched up 0.7% in November

SHANGHAI, Dec 9 (SMM) – Production of stainless steel in China inched up in November, after two consecutive months of decline, as 200-series producers recovered from maintenance.

SMM data showed that 2.42 million mt of stainless steel was produced in China last month, up 0.71% from a month ago and 8.11% from a year ago.

The recovery from maintenance boosted production of 200-series by 3.24% on the month to 797,000 mt, while production of 300-series shrank 2.15% to 1.17 million mt as Zhangjiagang Pohang and Delong at the end of the month began annual overhaul that is scheduled to continue through to early December.

Some loss-making 300-series producers shifted to 400-series last month, which also helped lower production of 300-series and lifted that of 400-series. With profits remaining stable, production of 400-series increased 4% last month to 460,700 mt.

China’s production of stainless steel is expected to edge down 0.77% to 2.4 million mt this month, 9.12% higher than December 2018.

Production of 300-series is estimated to fall 3.34% to 1.13 million mt, while that of 400-series will increase 0.07% to 461,000 mt and that of 200-series will creep up 2.51% to 817,000 mt.