According to the latest data from the World Stainless Association (Worldstainless), global stainless steel production in melt shops increased by 5.4pct YoY in the first three quarters of 2024, reaching 46.092 mln tons.
China remained the largest producer, with output totaling 28.63 mln tons, a 3.4pct rise compared to the same period in 2023. Excluding China and South Korea, stainless steel production in Asia grew by 8.1pct, reaching 5.393 mln tons.
Europe experienced a nearly 5pct YoY increase, with total production reaching 4.69 mln tons. In the USA, stainless steel output surged by 9.1pct YoY, reaching 1.5 mln tons.
Production in other countries, including Brazil, Russia, South Africa, South Korea, and Indonesia, collectively rose by 11.2pct YoY, totaling 5.86 mln tons. The World Stainless Association, formerly the International Stainless Steel Forum (ISSF), represents a group of leading stainless steel manufacturers globally.
