Demand is low, stainless steel fasteners reduce production by 60%

It is understood that from April onwards, stainless steel fastener manufacturers reduced their production and suspended production. According to incomplete statistics, the current domestic production of stainless steel fasteners is reduced by 60%.

Since the beginning of this year, domestic orders for stainless steel fasteners have declined sharply, while stainless steel domestic sales have been suppressed by the depressed real estate market. Demand is weak, and the profits of stainless steel smelting companies have fallen sharply.

As the volume of orders declined and profits declined, small and medium-sized stainless steel fastener manufacturers stopped production. Large-scale fastener companies also continued to be weak due to market conditions. Only some of the market was contracted. It is reported that a large domestic stainless steel fastener company, because of falling profits and orders, capital chain tensions, corporate operations are at stake. Due to the weakening of terminal demand, the fall in stainless steel prices and the increase in production costs, stainless steel manufacturers have been sending news of production cuts and production line changes since May. The company also reduced the purchase price of nickel pig iron. This week, a large stainless steel plant in Jiangsu reduced the purchase price of high-iron nickel by RMB 40 per nickel point.

In the global economic downturn, smelting enterprises have suffered severe downturns in their end-user demand. Maintaining production stability and preventing sluggish market expansion are problems that most manufacturing companies currently face.