According to Mysteel, one of the pioneers of foreign resources, stainless steel production in China in October amounted to 2.26 million tons, according to the reports of 32 metallurgical companies. This was 5.0% less than the previous month and 19.2% less than October 2020.
The smelting of stainless steel in the country has been falling for four consecutive months. The October figure was announced to be the lowest since April 2020. The reason for this decrease was cited as power outages.
Mysteel noted that the power supply of electric steel smelters in provinces such as Jiangsu, Guangdong and Guangxi improved slightly in October. However, restrictions were tightened in Fujian, Zhejian and Shandong provinces, resulting in a negative balance.
Mysteel estimates that 27.27 million tons of stainless steel were melted in China in just ten months. This was interpreted as exceeding the level of the same period last year due to the high performance in the first half of the year.
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