In the fourth quarter last year, world stainless crude steel output decreased by 2.2 percent quarter on quarter to 14.77 million mt, while increasing by 6.6 percent compared to the same quarter of the previous year, according to the preliminary report released by the International Stainless Steel Forum (ISSF). Meanwhile, in 2023 world stainless crude steel output rose by 4.6 percent year on year, amounting to 58.44 million mt.
According to the ISSF data, in 2023 stainless crude steel production increased by 12.6 percent in China and moved down by 7.2 percent in the Asia region excluding China and South Korea, while decreasing by 9.6 percent in the US and down by 6.2 percent in Europe, all compared to 2022.
Stainless crude steel production (x 1,000 metric tons):
Region |
Quarter |
Total |
||||
Q1 |
Q2 |
Q3 |
Q4 |
2022 |
y-o-y |
|
1,636 |
1,495 |
1,270 |
1,502 |
5,902 |
-6.2% |
|
USA |
478 |
465 |
442 |
440 |
1,824 |
-9.6% |
China |
8,418 |
9,291 |
9,970 |
8,997 |
36,676 |
12.6% |
Asia (excluding China and South Korea) |
1,631 |
1,687 |
1,619 |
1,943 |
6,880 |
-7.2% |
Others |
1,665 |
1,809 |
1,798 |
1,891 |
7,163 |
-5.2% |
TOTAL |
13,828 |
14,745 |
15,099 |
14,773 |
58,444 |
4.6% |