China’s stainless-steel producers may face a “difficult” second half because of overcapacity and a global economic slowdown, said Baoshan Iron & Steel Co., the country’s second-biggest maker of the alloy“We aren’t optimistic about the market,” Lou Dingbo, general manager of Baoshan’s stainless steel division, said at a conference n Shanghai today. “Economies, including in Shanghai today. “Economies, including China, are slowing down and new capacities are ramping up supplies.” Domestic producers including Lianzhong Stainless Steel Corp., Jiuquan Iron & Steel Group Co. started new plants last year Group Co. started new plants last year, leading to lower prices. Baoshan’s stainless steel division posted a profit margin of 0.9 percent in the first half, compared with an average of 8.8 percent for all steel products, the company said in its earnings report for the period. products, the company said in its earnings report for the period
China’s stainless-steel output may rise 6.2 percent to 12 million metric tons this year Li Cheng, the honorary chairman of the Beijing-based Stainless Steel Council, said Beijing-based Stainless Steel Council, said at the conference By contrast, annual consumption will lag behind supply, increasing as much as 7 percent to 10 million tons in 2011, Lou said. Demand growth will remain at this pace in the next few years, he said. The country’s stainless steel exports may rise at least 30 percent this year to 2 million tons, after doubling to 1.5 million million tons, after doubling to 1.5 million tons in 2010, according to Li. Still, the order book for Baoshan’s stainless elaborating. The company’s production base in Shanghai has a stainless stee output capacity of 1.5 million tons a year he said.
China’s stainless-steel output may rise 6.2 percent to 12 million metric tons this year Li Cheng, the honorary chairman of the Beijing-based Stainless Steel Council, said Beijing-based Stainless Steel Council, said at the conference By contrast, annual consumption will lag behind supply, increasing as much as 7 percent to 10 million tons in 2011, Lou said. Demand growth will remain at this pace in the next few years, he said. The country’s stainless steel exports may rise at least 30 percent this year to 2 million tons, after doubling to 1.5 million million tons, after doubling to 1.5 million tons in 2010, according to Li. Still, the order book for Baoshan’s stainless elaborating. The company’s production base in Shanghai has a stainless stee output capacity of 1.5 million tons a year he said.
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