Reuters reported that Thainox Stainless has planned to stop production for 1 month due to weak global demand. As per report, the shutdown would help the firm save costs at its plant in Rayong on Thailand's eastern seaboard, and allow it to carry out maintenance work.

Thainox Stainless officials said that "However, during this period, the customers will still be able to place an order and we continue to deliver the finished products as usual as the Bangkok office and other departments not directly related to production continue to work."

Thainox has an annual capacity of 300,000 tonnes of stainless steel, widely used in the construction, automobile and household sectors. Around 60% of its output is sold on the domestic market and the rest exported.

Kim Eng Securities said in a research note that Thainox is now running at a low utilization rate of 53%, mainly due to a lack of hot rolled coils.

(Sourced from Reuters.com)