China’s stainless steel output grows

According to statistics China’s stainless steel output reached around 2.93 million tons in May up by 1% compared to the previous month but falling by 1.4% from the same month a year ago.

Among them, the output of 200 series had a year-on-year increase of 10% to 917,000 tons; that of 300 series was down by 2.9% year on year to 1.45 million tons; that of 400 series dropped by 3.1% year on year to 559,000 tons.

China’s supply of stainless steel was better than expected in May. Steel mills were willing to maintain their production after profits rebounded and pure nickel prices fell.

For June, the output of 200, 300, and 400 series stainless steel was expected to decline by 2.19% to 7% compared to the same month a year earlier.