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Weekly news review for stainless steel market in China -17th to 21st March 2014
Time：2014-03-24
Stainless steel enterprises output reduction announcement.
LISCO announced that they will reduce 40% output and stop purchasing the 201, 304 billets from other companies.
BAO steel reduced stainless steel hot-rolled coil 5000 Tons per month.
JISCO reduced stainless steel hot-rolled & cold rolled product 20% per month
Stainless steel products price rising.
Due to the LME nickel price keeps rocketing up and the stainless steel output reduction announcement from LISCO, BAO steel and JISCO, the stainless steel hot-rolled & cold-rolled coil products rises up USD50/T accordingly.
Vinto’s view
In 2014, Chinese government is strictly carrying out the policy of energy-saving and emission reduction, thus the environmental cost for stainless steel producers will be higher than before. Some companies which are producing dis-qualified stainless steel material and environmental pollution will slowly disappear.
The most important, this will help to optimize stainless steel industry and finally will help the enterprises to reach scale benefits, making Chinese stainless steel products still competitive and better ever before. The phenomenon of survival of the fittest is also taking place among the stainless steel welded tubes manufacturers in Foshan.
By Vinto Team
Source: 51bxg
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