SteelOrbis has been informed that the majority of South Korean stainless steel producers may decrease their production output of stainless steel grade 300 in September in order to cope with the unstable stainless steel market.
Commenting on the current market situation, the largest South Korean stainless steel producer POSCO has disclosed to SteelOrbis that the current instability in the nickel price is being directly reflected in stainless steel consumption, and that this may persuade stainless steel producers to downscale their production outputs in September. However, POSCO's spokesperson also expressed the view that the market will stabilize sooner or later.