China: Stainless steel output falls 15% y-o-y in Feb'26

China's stainless-steel production fell 15% y-o-y in Feb'26, with mills cutting output by 0.50 mnt to 2.70 mnt from 3.2 mnt last year. The 300 series led the decline, down 16% to 1.38 mnt, followed by 200 series (-15% y-o-y) and 400 series (-9% y-o-y). On a m-o-m basis, mills trimmed total production by 12% from Jan'26 levels, indicating a sequential slowdown in mill operations.