According to the report, Tsingshan Indonesia, one of the leading stainless steelmakers in Indonesia, decided to cut the production by 20% since this November, mainly due to insufficient nickel mines and the beginning of the rainy season, reducing production, sales, and raw material procurement pressure.

Currently, the tentative implementation would be implemented until the end of the year. Although it decided to cut the production, the price would not be adjusted too much.

The market believed that Tsingshan Indonesia was currently an important indicator of the global stainless steel market price trend, the demand in the stainless steel market was sluggish and reducing production and stable prices should be an important main cause.