Decrease in stainless steel production to beneficial to market development
Statistics from World Stainless Association showed that global crude stainless steel production slid by 5% year on year to around 13.67 million tons in the first quarter of 2023. Among them, China was the only country that increased its output during the quarter, with production of around 8.27 million tons, up by 4.1% year on year.
Yieh United Steel Corp. (Yusco), a leading stainless steel manufacturer in Taiwan, said that the decrease in most major countries’ stainless steel output will be beneficial to the global market, adding that reducing stainless steel production can support prices and is favorable for market development.
Yusco has been actively promoting technological innovation, increasing the proportion of high-value-added products, and strengthening its competitive advantage.
