The International Stainless Steel Forum (ISSF) has released figures for the full year 2019 showing that stainless steel melt shop production increased by 5.84% year-on-year to 50.7 million metric tons.
In China, the production share has been increased to 52.6% from 12.9%, which symbolizes a positive year ahead. And there is a decline in production in the USA, Europe, Asia, and other countries.
There is a substantial increase of 48.1 Mt from 6.9 Mt in stainless steel production compared to plastics for the FY19.
The compound annual growth rate of stainless steel reaches 5.4% with an average increase of 2.54%. The key metals included are Lead (2.01%), Copper (2.64%), Zinc (2.05%), Aluminum (3.84%), and Carbon Steel (2.47%).
Foreign trade exports of stainless steel in 1,000 metric tons that include feedstock material for further processing have shown an increase in the total production in 2018 compared to 2017 data.
In Asia, there is an increase in stainless steel consumption in 2018 than the previous year, whereas stainless steel demand index has been increased in China.
