The global production of stainless steel declined, China as the main producer

From 2010 to 2019, global stainless steel production increased from 3.194 million tons to 52.218 million tons, with a CAGR of 5.93 percent, with supply growth mainly from China. The global economic situation has changed significantly in 2019. The U.S. trade war has created a lot of uncertainty, leading to weak global growth and slowing growth in stainless steel production.In 2020, global crude stainless steel production will total 50.89 million tons, down about 2.5% year-on-year. Excluding China, global crude stainless steel production decreased by 2.065 million tons, or 9.05 percent, year-on-year. Global stainless steel production in the first three months of 2021 increased by 24.7% year-on-year to 14.5 million tons 

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