In the fourth quarter of 2024, world stainless crude steel output moved up by 4.9 percent quarter on quarter to 16.45 million mt, while in 2024 it rose by seven percent year on year to 62.62 million mt according to the preliminary report released by the International Stainless Steel Forum (ISSF).
According to the ISSF data, in 2024 stainless crude steel production moved up by 7.5 percent in China and increased by 6.4 percent in the Asia region excluding China and South Korea, while rising by 6.9 percent in the US and by 1.5 percent in Europe, all compared to 2023.
Stainless crude steel production (x 1,000 metric tons):
| Region | Q-o-q change | Y-o-y change | ||||||
| 2024-Q1 | 2024-Q2 | 2024-Q3 | 2024-Q4 | (%) | 2023 | 2024 | (%) | |
| Europe | 1,563 | 1,625 | 1,506 | 1,394 | -7.4 | 5,997 | 6,088 | +1.5 |
| US | 509 | 518 | 482 | 441 | -8.5 | 1,824 | 1,950 | +6.9 |
| China | 8,655 | 10,152 | 9,898 | 10,736 | +8.5 | 36,676 | 39,441 | +7.5 |
| Asia (excluding China and South Korea) | 1,842 | 1,776 | 1,776 | 1,928 | +8.6 | 6,880 | 7,322 | +6.4 |
| Others | 2,076 | 1,761 | 2,029 | 1,954 | -3.7 | 7,163 | 7,820 | +9.2 |
| TOTAL | 14,644 | 15,833 | 15,690 | 16,453 | +4.9 | 58,539 | 62,621 | +7.0 |