It is reported that Chinese domestic steel mills have made concerted efforts in output cutback to halt the falling steel prices in recent past months. However, the move was considered as useless by some mills.

Mr Wang Xinping official from Taigang Stainless said that "Cut output to help stabilize market price is not the best choice to get over the current downturn."

He added that "The worldwide financial turmoil and the sluggish steel market have certainly put a drag on our business, however, it also brought us an opportunity. Close operation to stop price fall has already stopped working in face of the economic woes. We have stepped up efforts in marketing and it is a good news to us."

To survive the trial, Taigang Stainless has closed down some capacities with low safety margin and efficiency, and actively adjusts product mix to realize a sustainable development.

(Sourced from www.MySteel.net)