China’s Taiyuan Iron and Steel plans to raise the nameplate capacity of its stainless plants from the current 1 million tonnes to 3 million tonnes by around July of this year, said Mr Li Cheng, executive president of the Stainless Steel Council for China Special Steel Enterprises Association. Taiyuan’s capacity would be raised on the back of the country’s robust stainless demand, which is forecast to grow by 7% YOY in 2006. A source close to the company said it would take three to five years before the company produced at 3 million tonnes.
