Stainless Steel Melt Shop Production in Q1 Surges by 25% YoY
The International Stainless Steel Forum has released figures for the first three months of 2021 showing that stainless steel melt shop production increased by 25% YoY to 14.5 million tonnes, but up 3% QoQ
Europe – 1.909 million tonnes, up 11.0% & QoQ & 5.3% YoY
USA – 0.624 million tonnes, up 9.7%QoQ & down 0.4% YoY
China – 8.198 million tonnes, down 0.5% QoQ &36.9% YoY
Asia w/o China & Korea – 1.880 million tonnes, up 2.4% QoQ, down 0.3% YoY
Others – 1.901 million tonnes, up 7.7% QoQ & 43.8% YoY
Others: Brazil, Russia, S Africa, S Korea, Indonesia
Source: International Stainless Steel Forum
According to earlier data of International Stainless Steel Forum, the global production of crude stainless steel reached 50.89 million tonnes in 2020, with a growth rate of 5.68% since 1950. In 2020, the major producing regions of crude stainless steel included China at 30.139 million tonnes, EU 6.323 million tonnes, India 3.157 million tonnes, Japan 2.413 million tonnes, US 2.144 million tonnes, Taiwan 0.859 million tonnes and Indonesia, South Korea, South Africa, Brazil, and Russia 5.857 million tonnes in total.
By industry, the proportion of stainless steel consumption in 2020 of metal products, mechanical engineering, construction, electrical appliances, motor vehicles and parts, and other transportation was 37.7%, 8.7%, 12.4%, 7.8%, 8.3%, and 5.1%, respectively.