Stainless Steel production decreases by 2.5% y-o-y in 2020

Global stainless-steel production was less optimistic and fell by 2.5% y-o-y to 50.9 mnt in CY ’20, according to reports by The International Stainless Steel Forum (ISSF). The output was down and the effects of Covid-19 were clearly the reason behind falling production in Q2 and Q3 in all regions except China, which experienced an increase of 2.5% y-o-y to 30.14 mnt in CY ’20. However, the first two months of production in 2021 show a positive trend and this year is likely to see a huge gain as government spending on infrastructure increases globally.