China Stainless Steel Market In Apr
It is reported that Chinese stainless steel mills' oversupply has been threatening the nearby countries.
the capacity utilization rate of the Chinese stainless facilities was only at 61.3%, caused by surged output and weak demand.
Facing the fierce price competiveness from cheap import, Tang Eng, one of the major stainless steel mills in Taiwan has been mulling to file the antidumping investigation against the cheap imports from China and South Korea.
According to statistics of the Stainless Steel Bar Council of China Special Steel Enterprise Association, China's crude stainless steel output totaled 12.591 million tonnes in 2011, soaring by 11.86% YoY.
the inventory of stainless steel products totaled 210,756 tonnes in Chinese Wuxi market in the first half of April 2012, down by 6.13% from a half month earlier.
Among them, 129,144 tonnes were cold rolled stainless steel products, decreasing by 5.01%; 81,612 tonnes were hot rolled stainless steel products, falling by 7.85%, both compared to that in a half month ago.
For the CR stainless steel products, 6,188 tonnes were 200 grade products, declining by 23.14%; 92,397 tonnes were 300 grade materials, down by 4.45% and 30,559 tonnes were 400 grade products, dropping by 2.08%, all compared to that in a half month ago.
For HR stainless steel products, 4,680 tonnes were 200 grade products, down by 1.27%; 69,732 tonnes were 300 grade materials, decreasing by 5.28% and 7,200 tonnes were 400 grade products, falling by 29.41%, all compared to that in a half month earlier.
Reportedly, Baosteel Stainless Steel and Baosteel Special Material, the two main operational facilities under Chinese steel giant Baosteel Group have been officially launched on April 1st 2012, indicating the company's significant strategy for better and strong stainless steel and special material business.
Baosteel Co Limited approved the proposal to sell its stainless steel and special steel business to Baosteel Group in March 2012.
Baosteel Group has targeted to make Baosteel Stainless Steel and Baosteel Special Material become a global leading stainless steel brand name and a manufacturing base for high end materials respectively.
It is known that the Chinese government has aimed to transform and develop Chinese steel industry to a strong one during the period of 12th Five Year. Baosteel has actively followed the government policy.
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