China's stainless steel production to drop in April

It is expected that China's stainless steel production is likely to decrease in April because the small and medium sized domestic manufacturers are planning to reduce production.

Market participants said that currently some medium sized mills have announced plans to cut production by 40% to 50%. Once the major steel mills cut the production capacity and other mills should follow the suit.

Meanwhile, the most production to cut is 200 series stainless steel products, mainly because manganese metal prices continue to fall.

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