China stainless steel output shrinks 5% in Sep

SHANGHAI, Oct 12 (SMM) – Production of stainless steel in China declined in September, after rising for four consecutive months, showed an SMM survey.

China produced 2.47 million mt of stainless steel last month, down 4.99% from August but up 8.38% from the corresponding month of 2018.

300-series accounted for 1.16 million mt. This declined 2.1% year on year and 5.74% month on month, as losses and raw material supply tightness drove mills to slash production or turn to other series.

Production of 200-series fell 8.66% to 896,000 mt, while that of 400-series grew 6.57% to 416,700 mt.

China’s production of stainless steel is likely to extend its decline this month to 2.44 million mt, as some 200-series mills plan to curtail production on losses.

Production of 200-series is expected to fall 6.25% to 840,000 mt, while that of 400-series will inch up 0.79% to 420,000 mt.

Output of 300-series is expected to grow 1.73% to 1.18 million mt.