May 26, 2022
Global stainless steel use expected to rise 3.6% in 2022, 3.2% in 2023
2022-07-05
Global stainless consumption is expected to increase by 3.6 percent in 2022 and by 3.2 percent in 2023, both year on year, according to the report released by the International Stainless Steel Forum (ISSF).
In particular, global hot rolled and cold rolled stainless steel consumption are expected to increase by 2.8 percent and 4.1 percent in 2022, respectively, both year on year. In 2023, global hot rolled and cold rolled stainless steel consumption will both increase by 3.1 percent year on year.
According to the ISSF data, in 2022 stainless steel consumption will increase by 3.4 percent in China, while increasing by 4.9 percent in the Asia region excluding China, and will move up by 5.2 percent in the US, all compared to 2021. As for 2023, stainless steel consumption is expected to increase by 3.2 percent in China, while increasing by 3.9 percent in the Asia region excluding China, and is foreseen to move up by three percent in the US, all year on year.
Source: Steel Orbis
