It's reported that the many stainless producers in China have continued to reduce the production in April due to weak prices in domestic spot market.
It's known that Tsingshan Group, the largest private stainless steelmaker in China will cut its production of 300 grade stainless billet by 30,000 tons in April. The company reduced the production of 300 grade and 200 grade stainless billets by 26,000 tons and 5,000 tons respectively in March.
In addition, Baosteel Stainless also planned to cut its production of 300 grade stainless steel by 10,000 tons and Baoxin Stainless, a cold rolling plant belongs to Baostee will also slash its production by 15,000 tons in April.
Taiyuan Iron & Steel Group (Tisco) is decreasing its production of 304 grade stainless steel products while increasing the production of non-mainstream products such as 316 and 310 grades to 60% in April from 50%.
Lianzhong Stainless Steel Corp. (Lisco) is planning to cut the production by 60,000 tons in April