According to analysis done by SteelRadar from the data from World Steel Association (Worldsteel), global stainless steel production in the January-September 2024 period increased by 5.4% compared to the same period last year, reaching 46.09 million tons.
Increase in Europe and the U.S.
During this period, stainless steel production in Europe, including Ukraine, increased by 4.9%, reaching 4.69 million tons. The U.S. produced 1.51 million tons of stainless steel, showing a 9.1% increase.
Increase Continues in Asia and Other Regions
In Asia, excluding China and South Korea, stainless steel production increased by 8.1% to 5.39 million tons. China produced 28.63 million tons of stainless steel, recording an increase of 3.4% in the same period. Stainless steel production in other countries also increased by 11.2%, reaching 5.86 million tons.
Decline in the Third Quarter
In the third quarter of 2024, global stainless steel production decreased by 1.1% compared to the previous quarter, falling to 15.65 million tons. In Europe, production dropped by 7.3% on a quarterly basis to 1.51 million tons, while the U.S. saw a 6.9% decline, producing 482 thousand tons. In China, production decreased by 2.8% to 9.86 million tons, while in Asia (excluding China), production remained stable at 1.78 million tons. In other countries, production rose by 15.1%, reaching 2.03 million tons.
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