China’s stainless steelmakers plan to cut production

According to the market news, many of the stainless steelmakers decided to cut their production in China, especially in the East China region.

The current total decrease in production in the East China region was around 50,000 tons.

The main reason for this decision was the high inventory level.

The stainless steelmakers did not take rest during the Chinese New Year holiday, plus the postponed working day in China, the inventory level was pretty high now.