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China's stainless steel production in September was 2.22 million tonnes, down 590,000 tonnes, or 20.97%, down from the previous month and down 19.75% from a year earlier, SMM reports.
From January to September, China's stainless steel production totaled 24.78 million tonnes, up 17.1% from a year earlier.
The dual control policy for energy consumption has been strengthened in Guangdong and Jiangsu, and stainless steel production has been severely restricted. The total operating rate (capacity utilization) fell from 93% in August to 73.7%. The production of 200 and 300 series products dropped significantly.
Production in Jiangsu is gradually recovering in October amid easing electricity rationing, and operating rates may recover. However, operating rates in Fujian and Guangdong are expected to continue falling due to tight restrictions.
Stainless steel production is expected to continue to decline in October to 2.19 million tonnes. Production of the 300 series is likely to drop 16,000 tons to 1.16 million tons, production of the 200 series 589,000 tons and production of the 400 series 443,000 tons.
