Global stainless consumption is expected to remain stable in 2023 and rise by 3.6 percent in 2024, both year on year, according to a report released by the International Stainless Steel Forum (ISSF).
In particular, global hot rolled and cold rolled stainless steel consumption are expected to remain unchanged and decrease by 0.2 percent in 2023, respectively, both year on year. In 2024, global hot rolled and cold rolled stainless steel consumption will increase by 5.2 percent and by 3.2 percent, respectively, both year on year.
According to the ISSF data, in 2023 stainless steel consumption will increase by 1.1 percent in China, while increasing by three percent in the Asia region excluding China, and will move down by 4.1 percent in the US, all compared to 2022. As for 2024, stainless steel consumption is expected to increase by 2.7 percent in China, while increasing by 5.6 percent in the Asia region excluding China, and is foreseen to move up by 4.1 percent in the US, all year on year.