Stainless steel demand to maintain growth in 2024
At the meeting on January 23, the executive chairman of the Stainless Steel Branch of China Iron and Steel Association said that China's stainless steel industry has achieved development against the trend. China’s stainless steel exports totaled 4.14 million tons and imports were 2.07 million tons in 2023. However, the long-term stainless steel exporting development is still uncertain due to trade barriers.
Market participants said that China’s stainless steel industry should carry out comprehensive innovation, green development, a strong foundation, and strengthening self-discipline in 2024.
Participants at the meeting agreed that the demand for stainless steel will maintain a sustained growth trend in 2024, and some believed that the current high exports of stainless steel in China can last for some time. Ferrochromium production will increase in 2024, and demand for stainless steel in various industries is gradually increasing, with huge room for development.
