SS industry achieves two historic milestones
20 February 2018
Two historic milestones have been reached in 2017: For the first time ever, the global stainless steel crude steel production has exceeded the 50 MT mark last year. In the same year, China has consumed more than 20 MT of stainless steel flat and long products.
According to SMR, the global crude steel production has climbed 5% to 50.1 MT in 2017. China was the largest producer of stainless steel with 27.0 MT, followed by Europe (7.4 MT) and India (3.8 MT including pattas).
A new country entered the arena: After a commercial production start in Q3/17, Tsingshan melted in Indonesia an astonishing 650,000 tonnes of stainless steel last year.
SMR predicts that the stainless steel crude steel production will grow by around 4% to 52.1 million tonnes in 2018.
SMR – Steel & Metals Market Research GmbH is an independent market research company founded by Mr. Markus Moll in 1994.