Planned stainless steel production in China increased in May

Scheduled stainless steel production in China increased significantly in May. The planned production volume was more than 2.5 million tons, which is a new record for the year. The increase in planned production led to an increase in purchases with positively growing offers.

According to market participants, the increase in the schedule of stainless steel production has led to an improvement in demand for ferrochromium. However, the current increase in the production schedule is mainly due to an increase in trade purchases. Steel mills are not optimistic about the whole market, believing that the production schedule may be reduced in the future, and the long-term trend is still dependent on improved consumption of stainless steel.