China stainless steel output, consumption rise in 2020

Market: Metals
26/01/21

China's production, imports and consumption of stainless steel rose in 2020, according to data by China's special steel enterprise association.

The country produced 30.14mn t of crude stainless steel in 2020, up by 2.51pc from 2019.

Output of the 300 series stainless steel, which contains chrome and nickel, increased by 6.58pc on the year to 14.38mn t in 2020, accounting for 47.71pc of China's total production. This share increased by 1.82pc from 2019.

Production of the 400 series stainless steel, which contains chrome, rose by 7.68pc from a year earlier to 5.93mn t, and accounted for 19.66pc, up by 0.94pc on the year.

Output of the 200 series stainless steel, which contains manganese and chrome, declined by 5.68pc year on year to 9.64mn t in 2020 and accounted for 32pc, down by 2.78pc from 2019.

China produced 191,432t of duplex stainless steel last year, up by 5.8pc from 2019.

China's stainless steel imports totalled 1.81mn t in 2020, up by 61.33pc year on year, including a 468.15pc rise in imports of billet that totalled 863,900t. Exports of stainless steel dropped by 6.95pc from 2019 to 3.42mn t in 2020.

The country's apparent consumption of stainless steel was 25.61mn t in 2020, up by 6.46pc from a year earlier.

China is projected to produce 32mn t of stainless steel in 2021, up by more than 6pc from 2020. This is expected to boost the country's ferro-chrome and ore consumption and increase imports in 2021 following falls last year.

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