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Posco reduce stainless output in July

24 Jun 2008 11:41 reported by Ben Gu

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Posco announced to cut its stainless crude steel production by 25,000 tons in July due to the weak demand. In general, Posco outputs 150,000 ~170,000 ton of 300 and 400 series stainless steel per month. Despite production cut, the company has no intention to lower its price.

Both 300 and 400 series stainless will be affected, while the cut will be applied mainly to 300 series.

Stainless steelmakers in China and Taiwan also have announced to cut 20~40 percent production in June due to the weak demand.

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