MONTHLY: China's crude stainless output dips in April but stays near record highs

China's crude stainless steel output edged lower in April from March's peak, yet remained the second-highest on record, Mysteel's latest survey results show. Despite the on-month dip, mills maintained high operating rates following a recent price rally that improved profitability.

Crude output remains historically high Total crude stainless output from the 43 Chinese mills under Mysteel's regular tracking reached around 3.73 million tonnes last month, lower by 63,900 tonnes or 1.7% from March. The output was still 6.6% higher year-on-year, however. Facing cost pressures, major mills had stuck to their production