China's stainless steel production could grow 8 percent in 2015

During the Shanghai Summit, a senior analyst at Baosteel Stainless Steel Co gave a speech on the analysis and outlook for the stainless steel market. The report was compiled based on the demand for stainless steel products made in China at home and abroad. As a result, China's stainless steel production is projected to grow by 8 percent in 2015, given the industry's sensitivity to nickel prices.

Domestic demand growth will slow down, but will continue to grow. China's apparent stainless steel consumption in 2014 will be about 15.8 million tonnes, up 6.6 percent from a record low in 2010. The consumption of stainless steel will not show dramatic changes in the near future.

Consumption of stainless steel products per capita in China exceeded those in North America and the EU. However, in terms of stainless steel consumption in the Taiwan area, stainless steel demand in China still has room to grow in the short term. The use of structural products and steel structures in the domestic industry has great potential.

Foreign demand for stainless products has boosted exports from China, but anti-dumping duties complicate the process. Since 2010, stainless steel production outside China has hovered between 19.2 and 19.8 million tonnes for four consecutive years. This exit cannot meet the rapid growth in demand, so anti-dumping tariffs will not have such a negative impact on stainless steel exports from China, but export development should not be counted on either.