The Stainless Steel Industry achieved two historic Milestones in 2017

Two historic milestones have been reached in 2017: For the first time ever, the global stainless steel crude steel production has exceeded the 50 million tonnes mark last year. In the same year, China has consumed more than 20 million tonnes of stainless steel flat and long products.  

According to SMR, the global crude steel production has climbed 5% to 50.1 million tonnes in 2017. China was the largest producer of stainless steel with 27.0 million tonnes, followed by Europe (7.4 million tonnes) and India (3.8 million tonnes including pattas).

A new country entered the arena: After a commercial production start in Q3/17, Tsingshan melted in Indonesia an astonishing 650,000 tonnes of stainless steel last year.

SMR predicts that the stainless steel crude steel production will grow by around 4% to 52.1 million tonnes in 2018. 

SMR – Steel & Metals Market Research GmbH is an independent market research company founded by Mr. Markus Moll in 1994. Its mission is to provide market intelligence for the Stainless and Speciality Steel industries. SMR is a leading consultant of the Speciality Steel industry on all market related issues, having completed projects for most major Stainless and Special Steel producers worldwide.