Global output of stainless steel rose by 2.9pc to 52.2mn mt in 2019 from 2018, on a 10.1pc increase in China’s stainless steel output, according to the International Stainless Steel Forum.
China produced 29.4mn mt of stainless steel in 2019, up by 2.7mn mt from the previous year. The Q3 (July-Sept) in China saw the highest quarterly output at 8,135mt, up from 6,901mt from the prior year period.
Other major stainless steel producing countries experienced a drop in output. Asian countries excluding China and South Korea produced 7.9mn mt of stainless steel, down by 3.7pc from 8.2mn mt in 2018. Europe followed with 6.8mn mt, down by 7.9 pc from 7.4mn mt. The US produced 2.6mn mt of stainless steel, down by 7.6pc from 2.8mn mt in the previous year. Other countries produced 5.5mn mt, down by 2pc from 5.6mn mt.