SHANGHAI, Feb 8 (SMM) - According to SMM survey, the stainless steel output was 2.34 million mt in January, down 18.48% MoM but up 1.59% YoY. The output of 200-series stainless steel fell 17% MoM to 667,000 mt, 300-series dropped 4.5% MoM to 1.28 million mt, and 400-series declined 8% MoM to 399,000 mt.
The sharp output cut was related to the annual large-scale maintenance carried out by many stainless steel mills. The weak pre-holiday demand and the fewer production days in January, the orders received by stainless steel mills were poor. As such, the output of 200-series stainless steel declined sharply and that of 300-series also fell slightly. At the same time, the high ferrochrome prices in December also led to output cut of 400-series stainless steel.
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