Guangxi Province-based Chinese stainless steel producer Beigang New Materials (BG New Materials) has announced that it will implement maintenance and upgrading of its equipment in the March-June period this year, which will cause a drop in its production of 200 series stainless steel by 300,000 mt.
In 2024, the overall output of 200 series stainless steel in China amounted to 5.1469 million mt, with the fall in BG New Materials’ output to represent around six percent of the overall 200 series stainless steel output in China. At the same time, the production cuts by BG New Materials will be felt particularly strongly in southern China, especially in the Foshan market. It is thought that 200 series stainless steel prices in southern China will increase in the March-June period this year.