MONTHLY: China's October stainless output set to slip further

With China's domestic stainless steel market facing a widening supply-demand imbalance, producers are expected to cut crude stainless output slightly further in October, the most recent Mysteel survey findings suggest.

Tepid demand and swollen inventories have widened the supply-demand imbalance, while weaker cost support has added to the downward pressure on prices. Crude stainless output during this month among the 43 domestic mills under Mysteel's regular tracking is seen reaching 3.51 million tonnes, down 1.2% from actual production in September.