China's stainless output extends growth streak

China's crude stainless steel output climbed for the third straight month in October to 3.51 million tonnes, up 2.5% m-o-m and 6.8% y-o-y, Mysteel data show. All series rose - 200-series: 1.05mt (+1.4% m-o-m), 300-series: 1.8mt (+2.1%), 400-series: 0.66mt (+5.6%). Falling nickel pig iron and ferrochrome prices reduced mill costs, sustaining high run rates. However, November output is projected to dip 1.7% to 3.46mt, led by planned cuts in 200-series, as demand softens into winter.