China's stainless steel output fell 8% on the month to 2.45 million mt in February

SHANGHAI, Mar 10 (SMM) – According to SMM survey, the domestic stainless steel output in February totalled about 2.45 million mt, down 217,600 mt or 8.2% month on month, but up nearly 36% year on year as the pandemic took a toll on output in the same period of last year. The output of the 200 series decreased by 4.3% from the previous month to 793,000 mt, that of the 300 series increased by 8.6% to 1.13 million mt, and that of the 400 series decreased 7,600 mt or 12.7%.

The decline in the output is due to a three-day reduction in the number of natural days in February. In addition, February was during the CNY holiday, and many steel mills were undergoing annual maintenance. SMM data showed that the total affected stainless steel output stood at about 243,000 mt.

SMM survey shows that all steel mills will resume normal production in March, and maintain full production. Therefore, the total stainless steel output in March is expected to return to the pre-holiday high of 2.96 million mt, up 20.86% from the previous month. Among them, the 200 series will increase by about 26% from the previous month to 1 million mt, a slightly higher increase. Shandong Shengyang Stainless Steel Factory has gradually reached full capacity, and mainly increased the capacity of the 200 series, which will lift up the output growth rate of the 200 series to some extent.