company news about China is the mainstay of the global stainless steel industry

1. From the perspective of industrial scale

China's stainless steel production has been showing a steady growth trend, and the global share has remained above 50% for many consecutive years. Affected by the epidemic in 2020, foreign stainless steel mills have reduced production, but China's economy has taken the lead in recovering, and production has risen instead of falling. The output will exceed the 30 million tons mark, accounting for nearly 60% of the global share. In 2021, China's stainless steel production will slow down due to the high base in 2020 and the impact of the dual-control policy on energy consumption, but the output will still exceed 32 million tons. In foreign countries, due to the low base in 2020 and the easing of the epidemic, production and sales will increase significantly , the global output is expected to exceed 56 million tons, resulting in a drop in China's share of the global data. It is estimated that in 2022, China's stainless steel output is 34.5 million tons, and the global stainless steel output is 58.2 million tons. China's share of the world's share is expected to be close to 60%.

2. from the perspective of market demand

In 2021, China's stainless steel production will be mainly used in the domestic market, and the apparent domestic consumption will exceed 26 million tons. At present, China's per capita stainless steel consumption is 18 kg, which is far lower than the level of developed manufacturing countries such as Italy and South Korea, and the consumption potential is huge. In the future, China will still be the world's largest stainless steel market, and it is expected that China's apparent consumption of stainless steel will exceed 30 million tons in 2023.

3. The upgrading of process and equipment leads the world

Most enterprises in China's stainless steel industry have realized the upgrading of equipment and technology, the rapid development of intelligent manufacturing, the significant improvement of manufacturing efficiency, the overall enhancement of the ability to respond and satisfy customers, and a new pattern of domestic and international dual-cycle development.

The innovation of ferronickel smelting technology and integrated steelmaking process technology in China's stainless steel industry, and the wide application of high-efficiency cold and hot rolling (continuous rolling equipment has become the mainstream) has refreshed the global stainless steel manufacturing cost to a new low.