Stainless steel output in January fell 4.05% month-on-month and is expected to decline by 7.22% month-on-month under the influence of the Spring Festival in February！

According to SMM research, the national stainless steel output in January 2024 totaled about 2.893 million tons, a decrease of about 4.05% month-on-month and a year-on-year increase of about 24.34%. Among them, the output of 200 series stainless steel was about 687,000 tons, a decrease of about 16.78% month-on-month and an increase of about 3% year-on-year; The output of 300 series stainless steel was about 1.581 million tons, a decrease of about 1.31% month-on-month and an increase of about 25.41% year-on-year; The output of 400 series stainless steel was about 625,000 tons, an increase of about 6.38% month-on-month and a year-on-year increase of about 56.64%. In addition, Indonesia's stainless steel output totaled about 380,000 tons in January, a decrease of about 7.32% month-on-month and a year-on-year increase of about 35.71%. In January, after New Year's Day, the stainless steel disk opened low and fluctuated, and the SS contract rose to 14,400 yuan/ton, and the stainless steel transaction atmosphere was active. Although it has entered the seasonal maintenance period, 300 series stainless steel production enterprises maintain production, and some steel mills have maintained the level of December due to a slight reduction in maintenance output. The 200 series stainless steel plants in North China, which are mainly used for scrap stainless steel smelting, were affected by the production capacity compliance inspection, and the production of 200 series stainless steel was affected by the production capacity compliance inspection, and the output of 200 series stainless steel was about 40,000 tons, coupled with the centralized maintenance of some steel mills in Guangxi, the output of 200 series 1 decreased by about 138,200 tons, a decrease of about 16.78% from the previous month. The output of the 400 series has climbed, and the annual output of state-owned steel mills in December has declined slightly, and the overall resumption of production in January has increased by about 37,500 tons compared with December. In February, entering the Spring Festival holiday, some domestic steel mills carried out routine maintenance during the Spring Festival, and the output declined compared with January for only 29 days in February. Due to the good superposition of steel mills' February orders, the current steel mills have a small profit margin in the production of stainless steel, and the overall maintenance impact is expected to be less. Abroad, stainless steel in the first quarter is still in the off-season of consumption, Indonesian steel mills adjusted the pace of production, output slightly lower, in February is expected to Indonesian stainless steel output decreased by about 2.63% month-on-month. It is estimated that the domestic stainless steel output in February will be about 2.684 million tons, a decrease of 7.22% from the previous month. Among them, the output of 200 series stainless steel was about 721,000 tons, an increase of about 4.95% month-on-month; The output of 300 series stainless steel was about 1.377 million tons, a decrease of about 12.9% from the previous month; The output of 400 series stainless steel was about 586,000 tons, a decrease of about 6.24% from the previous month.

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