|
Chinese and Taiwanese stainless producer cut output in June
|
It is reported that the stainless steel producers in China and Taiwan have reduced the output in June.
Yieh United Steel Corp. (Yusco) and Tang Eng in Taiwan are estimated to cut the output by 50% while Baosteel in China is estimated to cut the output by 50% as well.
Market participants reckon that if the mills keep reducing the output, it will help the stainless steel prices to reach the bottom level soon.
Right now, the inventory of stainless hot rolled coil (HRC) and cold rolled coil (CRC) in the Chinese Wuxi market is below 190,000 ton.
Meanwhile, Taiyuan Iron&Steel Group (Tisco), the largest stainless maker in China announced to cut its July domestic prices by US$95/ton.
News Date
6/26/2012 7:43:19 AM
reported by
Kasim Xu
|
|
|
|
|