Global stainless steel output drops 5 pct in Q1 2023 YoY

According to the latest statistics released by World Stainless Association (Worldstainless), stainless steel melt shop production decreased by 5 pct YoY to 13.66 mln tons in the first quarter of 2023. The stainless steel output also decreased slightly by 0.3 pct as compared to the previous quarter.

In Q1 2023, China produced 8.273 mln tons stainless steel, up 4.1 pct YoY.

In Asia, except China and South Korea, stainless steel production decreased by 16.6 pct YoY to 1.63 mln tons.

Stainless steel production in Europe decreased by 12 pct YoY to 1.63 mln tons. In USA, stainless steel output declined by 16 pct on-year to 478,000 tons.

Stainless steel output in other countries (Brazil, Russia, S. Africa, S. Korea & Indonesia) declined by nearly 20 pct YoY to 1.64 mln tons.

World Stainless Association, formerly known as International Stainless Steel Forum (ISSF) is an international organization consisting of leading stainless steel manufacturers.