China’s stainless steel production increased by 12.6% in 2023 compared to 2022. Reaching 36 million tons, according to data from the Stainless Steel Council of the China Specialized Steel Council (CSSC).
China’s exports of stainless steel in 2023 are estimated at 4.14 million tons, compared to 4.55 million tons in 2022. Imports to China reached 2.07 million tons in 2023, while they reached 3.28 million tons in 2022.
The annual production capacity of stainless steel in China reaches 50 million tons, and the capacity utilization rate is about 70%. In 2024, about 13 million more tons of energy will be put into operation.
The CSSC notes that the amount of excess energy in stainless steel production may be higher in the future than in carbon steel production.
