MONTHLY: China crude stainless steel output falls MoM in June

China's crude stainless steel production declined on-month in June as the usual summer slow season for steel took hold. However, a modest recovery is projected for July, according to the latest Mysteel survey results.

Crude stainless output from the 43 Chinese mills under Mysteel's regular tracking totaled around 3.51 million tonnes last month, down 302,600 tonnes or 7.9% from May. Nonetheless, this still represented a 6.8% increase from June last year, keeping the absolute supply volume at historically elevated levels. The decline was broadly