Global consumption of cold rolled stainless steel (CRSS) and hot rolled stainless steel (HRSS) in 2020 is expected to increase 5pc and 3.5pc, respectively, according to the International Stainless Steel Forum.
The global stainless steel production in H1 2019 rose nearly 0.02pc, while overall consumption decreased over the same span. Through 2019 in the Americas, consumption of CRSS dropped 7.6pc and HRSS dropped by 7.1pc.
Over the same period of time in Europe and Africa, CRSS consumption fell 5.7pc, while HRSS rose 3.8pc.
Asia (excluding China), experienced a significant decline in consumption. HRSS and CRSS fell 3.7pc and 0.3pc, respectively, in 2019.
However, China has seen consistent increases. In 2019, CRSS consumption rose 10pc and HRSS increased 7.4pc.
Overall in 2019, there has been considerable decline in global consumption of stainless steel, with CRSS falling to 2.9pc and HRSS dropping to 2.7pc.