It’s reported that Japanese Nisshin Steel decided to skip accepting orders for stainless cold rolled coils (CRC) for July contracts due to sluggish demand for stainless steel flat products.
Nisshin Steel said that has cut production capacity by about 30% since last December at its Shunan works and Kinuura works.
However, the recent data showed that the crude stainless steel output at Shunan jumped by 72% month on month in April to 52,469 tons. Also, the output in Kinuura rose by 6% from a month ago to 13,388 tons.
Meanwhile, the domestic sales of austenitic and ferritic CRC totaled 47,602 tons in May, falling by 9% from a month ago. At end of May, the stocks rose by 1.5% to 105,752 tons.
Source:
http://www.yieh.com/2.2.01.01stainlesssteelnews.aspx?no=65102&division=A1
