Stainless Steel Output Likely to Grow in Apr

SHANGHAI, Apr 12 (SMM) - In April, the stainless steel output may rise slightly. Production of 200-series and 400-series will be at huge losses, and the in-plant and social inventory will both fall slowly. SMM believes that 200-series and 400-series output will decrease in April. In early April, 300-series stainless steel profits have improved somewhat. Orders received by the state-owned stainless steel mills were acceptable. Some mills even ramped up the production. Therefore, the overall output of 300-series stainless steel in April will grow. In addition to the slack domestic and foreign demand, the weakening cost support is an important reason for the drop in stainless steel prices. It is necessary to pay attention to the inventory consumption amid the declining spot supply and the bottom of raw material prices.