Stainless Steel Applications in China in 2020 to Drive 5% Growth in Steel Use

China's apparent stainless steel consumption will maintain positive growth of around 5-6% in 2020 as the country's stainless steel consumption continues to grow thanks to the increased use of high-quality steel in areas such as marine engineering. according to Liu Yanping, general secretary of the Stainless Steel Council of the China Association of Special Steel Enterprises (CSSC), modern railway transport and aerospace industry.

Liu shared her prediction at an online industry meeting on September 25. However, she noted that stainless steel consumption in other large countries or regions where it is used, such as Europe and the United States, could fall 15-20% this year as it has been hit by the long-term and sustained negative impact of COVID-19.

In 2019, China's apparent stainless steel consumption increased 9.2% year-on-year to 24.1 million tonnes, Liu said, with growth rates far exceeding the 2.4% increase in global stainless steel consumption. year on year.

Consumption of stainless steel per capita in China also has great room for growth: last year it was only about 17.2 kg per person after growing by 8.8% year on year, while in Japan and Germany it was more than 20 kg per person, and in Italy and South Korea. - even more than 30 kg, - said Liu.

“Domestic stainless steel was mainly intended for consumption in the domestic market and at the same time to meet the needs of the international market,” said Liu. However, this year, global demand for stainless steel has been weak due to the spread of the pandemic.

In January-July, exports of stainless steel from China reached 1.87 million tons, which is 7.7% less than a year earlier. However, during this period, imports of stainless steel increased by 19.6% over last year to 826,400 tons, according to CSSC data.

The increase in imports was mainly due to a sharp increase in the supply of stainless steel billets, which more than doubled to 364,000 tonnes after Chinese customs made it clear that billets were not subject to anti-dumping duties on stainless semi-finished products and hot rolled coils from According to Liu , Indonesia, the European Union, Japan and South Korea at the end of last year. She noted that in July alone, the import of stainless steel billets amounted to 122.8 thousand tons.