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