“A growing number of European stainless steel producers are either halting production or reducing production due to the sharp rise in energy costs and weak demand” foreign media reported. The Belgian Aperam plant in Genk, which had a capacity of 1m tonnes of stainless steel slab, closed in early August. Acerinox, the Spanish group with 1.1m tonnes of stainless steel capacity, also recently announced that it would cut production and put 85 per cent of its staff on temporary reduced working hours for at least 15 days. It is understood that Spain and Belgium stainless steel plants with a total capacity of more than 3 million tons, two large steel mills have stopped production, production, stainless steel supply has declined. There are reports in the EU that stainless steel buyers are currently trying to purchase existing stainless steel stocks from service centers, wholesalers, etc.
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