Stainless mills slate lower output, price cuts

Dec 20, 2007 | 08:27 AM |

Chinese stainless mills are planning to slash production by 40 percent and reduce prices at the start of 2008 in an attempt to prop up a limp market, market sources said.

"Stainless mills will slash their ex-works prices for next month, but the specific extent is still unclear," a market source close to the situation said. "I think the benchmark prices could be reduced by around 2,000 yuan ($271) per tonne," a 6-percent cut based on current prices.....

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