According to report, some European stainless steel makers may cut their production after Acerinox announced last month for short-term output cut in its Spanish plant in the H2 year.

Currently, most stainless steelmakers have faced over capacity about of 1 million tonne to 1.5 million tonnes annually. And most market participants are still waiting to see the next.

Acerinox decided to cut its output as it may operate profitably by producing less quantity as it has lower costs.

Analysts believed that other competitors, including ThyseenKrupp, Aperam and Outokumpu may also follow Acerinox on cutting shifts and production.

(Sourced from YIEH.com)