CSSC: China's Q1 crude stainless output up 2% on year
The on-year rise was mainly seen in the production of 300-series stainless over January-March, with the tonnage jumping by 9.4% on year, and the proportion of this series stainless in the country's total stainless output increased by 3.49 percentage points on year to 52.55%, CSSC data showed.
China's Q1 crude stainless steel output (Unit: million tonnes)
Product |
Q1 |
Y-o-Y (%) |
Share of total |
200-series |
2.35 |
-9.27% |
27.36% |
300-series |
4.52 |
9.37% |
52.55% |
400-series |
1.63 |
0.55% |
19% |
Source: CSSC
Over January-March, China's production of high-end duplex stainless posted a substantial on-year growth of 21,120 tonnes or 28.9% to reach 94,094 tonnes, accounting for 1.09% of the total output, according to the association.
CSSC's statistics showed that China's apparent consumption of stainless steel kept rise during the first three months of this year to reach 7.31 million tonnes, up by 203,600 tonnes or 2.9% from the same period last year.
However, the high-level output had placed some pressure on domestic stainless prices with the slowing pace of destocking in stainless inventories after the Chinese New Year holiday ended in mid-February, Mysteel Global noted.
As of March 29, the spot price of 304/2B Hongwang 2*1240mm stainless cold-rolled coil in Wuxi under Mysteel's assessment settled at Yuan 13,450/tonne ($1,857/t) in-warehouse and including the 13% VAT, falling by Yuan 300/t from the end of last December.
During January-March, the country's stainless exports totaled 1.06 million tonnes, higher by 94,500 tonnes or 9.8% on year, while the import volume climbed by 147,200 tonnes or 31.9% on year to 608,100 tonnes, according to the CSSC release.
Written by Nancy Zheng, zhengmm@mysteel.com
Edited by Alyssa Ren, rentingting@mysteel.com
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