Worldstainless foresees slowing stainless consumption in 2022

Worldstainless, the new name for the International Stainless Steel Forum (ISSF), expects global consumption of stainless steel to rise 3.6% on-year in 2022 and a further 3.2% on-year in 2023, Kallanish notes.

This year will see cold rolled stainless flat steel use rise by the most, 4.1%, followed by semi-finished longs with 3.6%. The latter product category will see the highest consumption growth of 5% in 2023, followed by long products with 3.8%.

The Americas and Asia without China will lead growth in 2022, with 5.2% and 4.9% respectively.

The growth is a significant slowdown from the 11% on-year global consumption rise seen in 2021.

In 2021, global stainless steel melt shop production increased 10.6% to 56.29 million tonnes. CrNi (300 series) stainless steel increased its share in overall production to 56.7%. 400 series’ share remained unchanged at 20.8% but 200 series’ share fell to 21.1%.

Adam Smith Germany