According to Chinese consulting firm Mysteel, stainless steel production in the country in September decreased by 15.6 percent compared to August and by 13.8 percent compared to September 2020, to 2.38 million tons, the lowest level in the last 16 months.
True, according to the nine-month results, the volume of stainless steel melting in China reached 25.0 million tons, which is 17.4% more than in the three quarters of last year.
As noted by the Chinese edition "Shanghai Metals Market" (SMM), the decline was driven by restrictions on electricity supply to Guangdong, Jiangsu and many other metallurgical enterprises. At the same time, production of 200 series nickel-free steel decreased the most with 31 percent compared to August. Production of 300 series stainless steel fell almost 20% to just under 1.2 million tons.
SMM forecasts the continued decline in the industry for October, with smelting falling below 2.35 million tons. Restrictions in Jiangsu province have been eased recently, but the energy supply situation in Fujian and Guangdong provinces may worsen this month.
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