Global stainless-steel melt shop production dipped by 9.4pc in the first half of 2020 to 23.7mn mt compared with the same period last year, according to International Stainless Steel Forum (ISSF).
China’s Q2 2020 output was higher than Q1 while in other regions, Q2 was weaker leading to the H1 2020 drop. According to ISSF, the COVID-19 pandemic hurt both production and consumption during this period.
Stainless-steel production in Europe slipped by 16pc in H1 2020 to 3.31mn mt from the prior-year period, while output in the US dipped by 20.3pc to 1.07mn mt during the same period. China’s stainless production dropped marginally by 2pc to 13.96m mt as the country recovered from the pandemic in the second quarter.
Asia’s stainless-steel melt shop production (excluding China and South Korea) reported a drop of 24pc to 2.96mn mt in H1 2020, down by 23pc from the same period last year.