9,877.59 TRY BIST 100 BIST 100
36.17 USD USD USD
5.00 CNY CNY CNY
37.87 EUR EUR EUR
0.13 CNY CNY/EUR CNY/EUR
39.36 TRY Interest Interest
74.85 USD Fossil Oil Fossil Oil
32.23 USD Silver Silver
4.66 USD Copper Copper
106.26 USD Iron Ore Iron Ore
351.00 USD Shipbreaking Scrap Shipbreaking Scrap
3,378.26 TRY Gold (gr) Gold (gr)

Stainless steel production is decreasing

According to Worldsteel, global stainless steel production decreased 5% year-on-year.

Stainless steel production is decreasing

While the Chinese economy and Europe's energy distress have made the headlines, the biggest drop in stainless production this year, in percentage, was in the United States, where production decreased by 13.2 percent. With a decrease of 11.2 percent, European manufacturers also saw a decrease in their activities.

In volume, however, declining production of 1.3 million metric tons in China accounts for more than 70 percent of the global decline.

As a percentage, China produced 5.2% less steel in the first nine months of this year compared to the first three quarters of 2021. The rest of Asia has kept production almost flat, falling just 0.4% so far this year.

Worldsteel estimates, based on a 2015 study, that scrap metal makes up about 44 percent of the raw material consumed by stainless steel mills worldwide. Reston, Virginia-based US Geological Survey estimates that "recycled nickel in all forms accounts for about 52 percent of apparent consumption in US nickel and nickel alloy steelworks in 2021."

Comments

No comment yet.

Only +plus subscribers can access this content.

SUBSCRIBE now to share your thoughts on the markets and get more comments.
SUBSCRIBE If you already have an account Sign In

Most read news

UK announces new strategies on the way for the steel industry

Monday, February 17, 2025

EMSTEEL takes groundbreaking steps towards net zero emissions by 2050

Monday, February 17, 2025

Kardemir and SMS group signed agreement for new casting plant

Monday, February 17, 2025

Dubai and Saudi Arabia exports hit by new US import tariffs

Monday, February 17, 2025

Baku Steel, Jindal frontrunners to buy Italy's Ilva

Monday, February 17, 2025
Follow List
Expand
Your watch list is empty

Add your favorite commodities for quick access and don't miss the latest price change news.


There are no news categories you follow
Edit Notification Preferences
E-bulletin subscription
Sign up to receive the latest news and daily iron prices by e-mail and sms
Become a Plus Subscriber Now!
Try it free for 3 days!
Subscribe Now
Neutral Prices
Be informed
Provincial Iron Prices
Comments and Analysis
Subscribe Now