Baoxin Stainless to decrease stainless steel production

BEIJING (Asian Metal) 21 Apr 23 - Ningbo Baoxin Stainless Steel Co.Asian Metal Copyright Located in Ningbo, Zhejiang province and based on the annual production capacity of about 660,000t, Baoxin Stainless produces 300 series and 400 series stainless CRC.Asian Metal Copyright (Baoxin Stainless), a major stainless steel producer in East China, would cut the production from about 55,000t in April to around 50,000t next month.

"Because of decreased orders from customers, we might just produce about 50,000t of stainless steel in May, down by around 5,000t MoM," disclosed a source of the company, who told the demand from downstream industries remains unsatisfactory at the moment. In addition, they still have zero stock in hand now, in line with last month.

Located in Ningbo, Zhejiang province and based on the annual production capacity of about 660,000t, Baoxin Stainless produces 300 series and 400 series stainless CRC. It produced around 135,000t of stainless steel in Q1 of 2023 and about 580,000t in total last year.

The mainstream prices of stainless CRC 304/2B 2.0mm*1,219mm*C from Baoxin Stainless remained at about RMB16,200/t (USD2,351/t) D/P in warehouse Wuxi on Thursday, unchanged from Wednesday.Asian Metal Copyright .Asian Metal Copyright Insiders expect Chinese 304 grade stainless CRC prices to go down in the coming week on weak demand.


.Asian Metal Copyright In addition, they still have zero stock in hand now, in line with last monthAsian Metal Copyright