July 05, 2008

TISCO to produce 2 million tonnes of stainless steel in 2008

It is reported that Taigang itself plans to produce 2 million tonnes of stainless steel in 2008, below original plans to produce 2.3 million tonnes.

Its capacity will be 2.5 million tonnes next year, but 2008 production depends on market conditions. A spike in nickel prices to a historic high of USD 51,800 a tonne in May 2008 and subsequent collapse in the third quarter hurt those mills using nickel in stainless steel.