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China’s stainless steel output down 1.7% in Dec

China produced 2.19 million mt of stainless steel in December, down 1.74% month on month but up 4.42% year on year, SMM data showed.

This brought stainless steel output in January-December to stand at 25.69 million mt, standing 5.58% higher than a year earlier.

In December, output of #300 series stainless steel shrank 3.65% from November to stand at 1.13 million mt. Tepid sales of such materials prompted some mills with high costs to cut output.

Output of #400 series decreased 2.47% from a month ago and came in at 434,500 mt for the same month.

Two mills in east China slightly raised their production of #200 series, which lifted overall December output of such materials by 2.46% to stand at 625,000 mt.

Output of stainless steel is estimated to fall to 2.08 million mt in January with that of #300 series down 8.77% to 1.03 million mt.

Nickel pig iron supply shortages at mills in the south, new production lines for hot-rolled steel and power transformer station issue would impact production of #300 series.

Output of #200 series stainless steel is expected to dip 0.16% to 624,000 mt with that of #400 series down 2.99% to 400,000 mt.
Source: SMM

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