China's stainless steel production increases by nearly 9% year-on-year in 2024

According to statistics, in 2024, China's crude stainless steel output was approximately 38 million tons, a year-on-year increase of 8.6%, and the growth rate slowed down compared with last year.

Seasonally, new production capacity was put into operation at the beginning and end of the year, resulting in relatively high output. In the middle of the year,

steel mills reduced production. On the one hand, it was due to losses; on the other hand, it was also because of the relatively large inventory pressure, whether in steel mill inventories or market inventories.

It is expected that China's stainless steel output will exceed 40 million tons in 2025, a year-on-year increase of 5.2%, and the growth rate will slow down.

In 2024, China's output of 200-series stainless steel was approximately 11.4 million tons, a year-on-year increase of 2.7%;

the output of 300-series stainless steel was approximately 19.8 million tons, a year-on-year increase of 8.8%;

and the output of 400-series stainless steel was approximately 6.8 million tons, a year-on-year increase of 19.3%.