On January 22nd, the Stainless Steel Branch of the China Iron and Steel Industry Association released statistical data on China’s crude steel production, import and export volume, and apparent consumption of stainless steel in 2024.
In terms of production, in 2024, China’s crude stainless steel production was 39.4411 million tons, an increase of 2.7652 million tons or 7.54% year-on-year. Among them, the production of Cr Ni steel (300 series) was 20.2914 million tons, an increase of 1.772 million tons or 9.57% year-on-year, and the proportion increased by 0.95 percentage points, accounting for 51.45%; The production of Cr steel (400 series) was 7.1747 million tons, an increase of 695100 tons or 10.73% year-on-year, with a proportion increase of 0.52 percentage points or 18.19%; The production of Cr Mn steel (200 series) was 11.5633 million tons, an increase of 279700 tons or 2.48% year-on-year, with a decrease of 1.45 percentage points in its share, accounting for 29.32%; The production of duplex stainless steel was 411693 tons, an increase of 18312 tons or 4.66% year-on-year, accounting for 1.04% of the market share.
From the perspective of imports and exports, in 2024, the total import volume of stainless steel in China was 1.8777 million tons, a year-on-year decrease of 193200 tons or 9.33%. Among them, the total amount of stainless steel imported by China from Indonesia was 1.5642 million tons, a year-on-year decrease of 130500 tons or 7.7%. In 2024, the total export volume of stainless steel in China was 5.0442 million tons, an increase of 906900 tons or 21.92% year-on-year. Overall, in 2024, the total net export volume of stainless steel in China was 3.1665 million tons, an increase of 1.1001 million tons or 53.24% year-on-year.
From the perspective of apparent consumption, in 2024, the apparent consumption of stainless steel in China was 32.4919 million tons, an increase of 1.4097 million tons or 4.54% year-on-year.