In recent year, China has accelerated the pace of stainless steel industrial restructuring, transformation and upgrade in the context of acute trade conflicts, large fluctuation in raw materials supply and continued deepening of supply-side structural reform. China has now become the world’s largest stainless steel producer, with stainless crude steel output in 2019 accounting for 56.3% of the world.
However, the per capita consumption of stainless steel in China was only 17kg in 2019, far lower than that in Germany, Italy and Japan. What’s more, China’s stainless steel output accounted for only 2.95% of the country’s total crude steel output. In this context, policy support should be strengthened for stainless steel industry.
(To contact the reporter on this story: leo.ji@steelhome.cn or 86-555-2238932 18616060095) |
