On December 2, six major Chinese producers of 200 series stainless steel held a meeting in Fu’an county in Fujian Province at which they agreed to initiate a joint reduction of production by 30 percent in December in order to weed out inefficient capacities and avoid low-price competition, as announced by the Stainless Steel Branch of the China National Association of Metal Material Trade.
The six 200 series stainless steel producers in question include Fujian Qingtuo Group, Beihai Chengde Ferronickel & Stainless Steel, Baosteel Desheng Stainless Steel, Henan Xinjinhui Stainless Steel, Lianyungang Huale Alloy and Fujian Wuhang Stainless Steel Products.