Global stainless steel production in January-September 2024 increased by 5.4% compared to the same period in 2023, reaching 46.09 million tons, according to data from the World Stainless Association.
During this period, Europe, including Ukraine, saw a 4.9% increase in stainless steel production compared to January-September 2023, reaching 4.69 million tons. The United States recorded a 9.1% year-on-year increase, producing 1.51 million tons.
In Asia, excluding China and South Korea, stainless steel production rose by 8.1% year-on-year to 5.39 million tons. China produced 28.63 million tons of stainless steel during the same period, marking a 3.4% year-on-year increase.
Other countries, including Brazil, South Africa, Indonesia, South Korea, and the Russian Federation, increased stainless steel production by 11.2% year-on-year to 5.86 million tons.
However, in the third quarter of 2024, global stainless steel production decreased by 1.1% compared to the previous quarter, totaling 15.65 million tons. Europe decreased production by 7.3% quarter-on-quarter to 1.51 million tons. The United States saw a 6.9% quarter-on-quarter decrease to 482,000 tons, while China's production fell by 2.8% quarter-on-quarter to 9.86 million tons. Asia (excluding China) remained unchanged at 1.78 million tons, and other countries increased production by 15.1% quarter-on-quarter to 2.03 million tons.
In 2023, global stainless steel production increased by 4.6% compared to 2022, reaching 58.4 million tons. Europe, including Ukraine, reduced production by 6.2% to 5.9 million tons. The United States decreased production by 9.6% year-on-year to 1.82 million tons, while China's production increased by 12.6% year-on-year to 36.68 million tons.
