According to statistics from the World Stainless Association (worldstainless), global stainless steel production in the first half of 2024 increased by 6.3% year on year to 30.40 million tons.

Worldstainless recently predicted that global stainless steel consumption will grow by 4% in 2024 and by 3% in 2025. The consumption of cold-rolled stainless steel sheets is expected to rise by 4.7% in 2024 and by 1.5% in 2025.

Meanwhile, the consumption of hot-rolled stainless steel plates is forecasted to increase by 3.6% in 2024 and by over 3.7% in 2025.

Additionally, the consumption of stainless steel long products is also expected to grow by 1% in 2024 and by more than 3% in 2025.