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Macquarie: China’s Q1 stainless production under SSC’s report

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According to report of Macquarie Commodities Research, the statistics of China’s stainless steel output in the Q1 released by the country’s Stainless Steel Council (SSC) was under-reported.

Macquarie estimated that China’s Q1 stainless steel output totaled 3.7 million tons, rising by 6% year on year, in comparison of SSC’s report of 3.443 million tons, soaring by 11.6% year on year.

Besides, SSC said that the country’s Q1 production of 200 grade stainless steel products increased by 52.9% year on year; however, Macquarie estimated an rise of 12% year on year for 200 grade products.
News Date 15 May 2012 13:34:54 reported by Nann Cheng

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