China's domestic stainless steel prices fall amid supply concerns

China's domestic stainless steel prices widened downward during the week to Wednesday August 4 amid concerns of an easing of anticipated production cuts in the second half of 2021.

The Politburo of the Communist Party of China said at a meeting last Friday that a national action plan to enable the country to have carbon emissions peak by 2030 would be issued, though it did not specify when.
It made this statement in response to what it described as an "overreaction" by provincial authorities over the central government's intention of keeping this year's steel output within 2020 levels. Local authorities across the country had formulated plans to limit steel production in the second half since output in the first six months of the year had risen year on year.

Steel industry analysts expect local governments in some regions to scrap the strict production curbs they have...

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