The World Stainless Steel Association released data for the first half of 2024, according to which stainless steel production in smelters increased by 6.3% year on year to 30.4 million tons.

According to a press release association, global stainless steel production in the second quarter of 2024 increased by 7.9% compared to the previous quarter, to 15.762 million tons from 14.609 million tons.

If you look at the regions of the world, in January - June 2024 in Europe, stainless steel production increased by 0.3% compared to January-June 2023, to 3.139 million tons; in the USA, production increased by 9% to 1.027 million tons; in Asia (excluding China and South Korea), stainless steel production also increased by 9% to 3.617 million tons, while in China it increased by 5.9% to 18.750 million tons; in other regions of the world (Brazil, Russia, South Africa, South Korea and Indonesia) an increase in production was recorded by 10.5% to 3.837 million tons.

As reported, global consumption of stainless steel, according to the association’s forecast, will increase by 3.9% compared to 2023, in 2025 - by 3.2%, after an increase of 3.1% in 2023.

The production of stainless steel in the world in 2023 increased by 4 .6% compared to 2022 - to 58.444 million tons.

Global production of stainless steel in 2022 decreased by 5.2% - to 55.255 million tons.