Worldstainless: Global stainless steel melt shop production grows in Q1-Q3
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Update time : 2024-01-10 17:17:35
According to statistics from the World Stainless Association, the global stainless steel melt shop production totaled 42.6 million tons in the first nine months of last year, rising by 2.5% compared to the corresponding period a year ago.
Among them, production from China accounted for 62.4% of the world's total output, totaling roughly 26.6 million tons, up by 13.4% from the same period a year earlier.
Output in Asia, excluding China and South Korea, slid by 12.4% year on year to 4.94 million tons. Production in Europe and the US also dropped by 8% and 12.9% year on year to 4.4 million tons and 1.4 million tons, respectively.
Meanwhile, production in other regions, including Brazil, Indonesia, Russia, South Africa, and South Korea, declined by 13.2% year on year to 5.27 million tons.
The statistics above showed that there is only an increase in China’s stainless steel melt shop production, and other regions in the world were recorded drops of 8-13.2%. However, the increase in China’s output had a limited impact on the global stainless steel scrap market due to its high reliance on mined nickel pig iron material.
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