PRODUCTION CUTS LIKELY AS MILLS SEEK TO BOLSTER PRICES

摘要

Measures to reduce stainless steel production are expected to become more commonplace as producers try to mitigate against price erosion, amid weak demand. MEPS has reduced its full-year global crude stainless steel production forecast from last quarter by 800,000 tonnes, to 59 million tonnes, after buying activity cooled and prices declined in the latter part of the first quarter. This would represent a 6.8 percent increase on 2022’s output.