Global stainless steel production falls 8% on year in Q1: ISSF

Global Stainless steel melt shop production fell 8% year on year to 11.7 million mt in the first three months of 2020, Brussels-based International Stainless Steel Forum (ISSF) said July 2.

In Europe, Q1 stainless steel production was at 1.79 million mt, 6.3% lower year on year, ISSF said.

In the US, production of 627,000 mt was 10.9% down year on year, while in China output was 9% lower at 6.08 million mt.

In Asia, not including China and South Korea, stainless steel output was 3.8% lower year on year at 1.89 million mt.

Although priced higher than carbon steel, stainless steel has in recent years increased its market presence in construction, transport and hygiene applications due to its superior corrosion resistance.

Stainless steel production is the biggest consumer of nickel metal.

— Diana Kinch