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European stainless steel mills to cut output next year
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According to Macquarie Group, the global stainless steel output is about 25 million tons in 2009, showing a decrease trend for three years in a row.
Also, market sources reported that EU stainless steel mills are planning to reduce output by 20 percent in the beginning of next year.
Japan, Europe and America are the biggest countries that reduce their production by around 29 percent, 26 percent and 13 percent in 2009. Conversely, China and Taiwan hike their output by 28 percent and over 15 percent respectively.
As weak requirement and market slow, some stainless steel mills in EU will plan to cut output accordingly in the beginning of 2010.
News Date
12/17/2009 8:06:03 AM
reported by
Shelley
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