China stainless steel production dropped 13.1% in January

in Commodity News 11/02/2020

China produced 2.09 million mt of stainless steel in January, down 13.06% from a month ago but up 4.8% from a year ago, showed SMM data.

Routine maintenance at the end of December to early January, together with the Lunar New Year holiday, led to the sharp decline in production last month.

Production of 200-series stainless steel in China plunged 21.49% in January to 634,000 mt, as maintenance at a southern mill cut production by about 100,000 mt. Last month, output of 300-series declined 9.19% to 1.01 million mt, and that of 400-series fell 7.87% to 441,700 mt.

China’s production of stainless steel is expected to shrink further in February, decreasing 3.61% on the month to 2.01 million mt, as the coronavirus outbreak prompts Chinese companies to delay their resumption. February’s production is estimated to increase 2.64% from a year ago.

Output of 200-series stainless steel is likely to decrease 5.87% to 596,800 mt, that of 300-series will dip 0.31% to 1.01 million mt, and that of 400-series is estimated to fall 7.95% to 406,600 mt.
Source: SMM News