Liu Fuxing, executive vice president of the China Special Steel Enterprises Association (CSEA), has stated at a conference held in Taiyuan that China’s stainless steel output is expected to exceed 30 million in 2019, rising by 12 percent year on year, while the country’s stainless steel consumption will likely amount to 24.60 million mt in the given year, up 16 percent year on year.
Mr. Liu indicated that 300 series stainless steel is expected to account for 47.76 percent of the total stainless steel output, while 400 series accounts for a lower percentage of the total output, reflecting the difficulties faced in promoting high-quality stainless steel and inhibiting production of lower-quality stainless steel.
Meanwhile, China’s leading stainless steel producer Taiyuan Iron and Steel Corporation (TISCO) is foreseen to produce 4.2 million mt of stainless steel in 2019, almost keeping in line with its output in 2018, Mr. Liu said.