According to the World Stainless Association, global stainless steel production rose by 7% year on year in 2024 to 62.62 million tons.

Among them, Europe's output increased by 1.5% to 6.09 million tons, and the US by 6.9% to 1.95 million tons. Asia, excluding China and South Korea, had a 6.4% hike, reaching 7.32 million tons, while China's production grew by 7.5% to 39.4 million tons. Other countries collectively increased production by 9.2% to 7.82 million tons.

In the fourth quarter of 2024, global stainless steel production was up by 4.9% quarter on quarter to 16.45 million tons. However, Europe and the US had quarterly declines, while China and other countries experienced increases, driving the overall growth. China and Asia recorded the highest year-on-year growth, while Europe and the US had the lowest.