Indian Stainless Steel Melt Production Declines by 19% in 2020
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Indian Stainless Steel Melt Production Declines by 19% in 2020

According to latest figures released by the Indian Stainless Steel Development Association, stainless steel melt production in India stood at 3.17 million

According to latest figures released by the Indian Stainless Steel Development Association, stainless steel melt production in India stood at 3.17 million tonnes in 2020, registering a decline of 19% over 2019, retaining ranking of second-largest producer of stainless steel globally. The Indian stainless-steel production was recorded at 3.93 million tonnes in 2020.

According to the latest data released by the Brussels-based International Stainless Steel Forum, global stainless steel melt shop production decreased by 2.5% YoY to 50.9 million tonnes in 2020. China remained the leading producer accounting for more than 50% of the global stainless-steel production at about 30 million tonne and the only country to record a production increase of 2.5% in 2020 over the preceding year. All other regions, including Europe, the US, and Asia, saw a dip in production in CY2020 on account of the impact of the pandemic.

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