South Korea: Major stainless steel makers to cut production in Sept’22

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Major stainless steel makers such as POSCO and Hyundai BNG Steel will cut production in Sept’22, as per a SteelDaily report.
POSCO said it has decided to expand production cuts after careful consideration as part of measures to prevent price declines in the retail market and stabilise the stainless steel market.
It is estimated that the supply will be reduced by about 50,000 t because of output cuts.

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