According to latest figures released by the Indian Stainless Steel Development Association, stainless steel melt production in India stood at 3.17 million tonnes in 2020, registering a decline of 19% over 2019, retaining ranking of second-largest producer of stainless steel globally. The Indian stainless-steel production was recorded at 3.93 million tonnes in 2020.
According to the latest data released by the Brussels-based International Stainless Steel Forum, global stainless steel melt shop production decreased by 2.5% YoY to 50.9 million tonnes in 2020. China remained the leading producer accounting for more than 50% of the global stainless-steel production at about 30 million tonne and the only country to record a production increase of 2.5% in 2020 over the preceding year. All other regions, including Europe, the US, and Asia, saw a dip in production in CY2020 on account of the impact of the pandemic.
Source: STEELGURU
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