According to the data released by the International Stainless Steel Association, global stainless steel production decreased by 5.2% compared to 2021, reaching 55.3 million tons in 2022.
According to the announcement from market participants, the USA recorded the biggest drop in stainless steel production 14.8 % in 2022, year on year.
According to the information provided by traders, countries in Asia, excluding China and South Korea, would increase their annual stainless steel production to 7.41 million tons in 2022, but the amount of stainless steel production in these countries decreased by 4.9% in 2022 compared to the previous year.
İn China, stainless steel production was recorded in the range of 31.97 million tons last year, and it was determined that this amount decreased by 2% compared to 2021.
In 2022, other countries, notably Brazil, South Africa, Indonesia, South Korea and Russia, produced about 7.58 million tons of stainless steel, a decrease of about 9.1 percent compared to 2021. According to market reports, global stainless steel production in the fourth quarter of 2022 increased by 8.6% compared to the previous quarter to 13.71 million tons.
Europe increased its stainless steel production index to 1.5 million tons in October-December 2022, a 28.6% increase compared to July-September 2022. In addition, according to the researches, the stainless steel production of Asian (excluding China and South Korea) countries reached approximately 1.77 million tons by increase of 1.2% in October-December 2022.
According to the MEPS’ prediction, This year, the global stainless steel production will rise to 60 million tons and the countries that will contribute significantly to the growth of this index will be the stainless steel producers in China and Indonesia.
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