The World Stainless Steel Association has released their first nine months’ production report for 2022 showing that stainless steel melt shop production decreased by 5.1% y-o-y to 41.9 million metric tonnes globally.
Region-wise stainless steel production
European market
Europe’s stainless steel production has declined by 11% y-o-y to 4,809 t from January-September 2022 compared to January-September 2021 which was around 5,413 t, according to the World Stainless Steel Association. Production in Q1 was 1,860 t which almost fell 5% to 1,767 t in Q2, there was a downfall of 33% in Q3 to 1,181 t.
US market
US’s stainless steel production has declined by 13% y-o-y to 1,589 t from Jan-Sept’22 as compared to Jan-Sept’21 which was around 1,830 t. The production in Q1 was 569 t which almost fell 9% to 520 t in Q2, there was a downfall of 4% in Q3 to 500 t.
Chinese market
The production of China was down by 5% y-o-y to 24,936 t during the period Jan-Sept’22 as compared against the same period last year which was about 23,635 t. The Q1 production was 8,038 t fell by 4% to 8,334 t in Q2, in Q3 the production was down by 13% to7,263 t.
Asia’s market
Asia’s overall stainless steel production was largely stable with a slight downfall of 0.4% to 5,746 t from Jan-Sept’22 as compared to Jan-Sept’21 which was around 5,769 t. The Q1 production was 1,956 t fell by 1% to 1,930 t which was almost stable in Q2, in Q3 the production was down by 4% to 1,859 t.
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