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China’s stainless steel crude steel production increased by 2.1% year-on-year in the first quarter to 8.5952 million tons

On April 29, the Stainless Steel Branch of the China Iron and Steel Industry Association released statistical data on China’s stainless steel crude steel production, import and export, and apparent consumption in the first quarter of 2024.
Specifically, China’s stainless steel crude steel production in the first quarter was 8.5952 million tons, an increase of 177,000 tons or 2.10% year-on-year. Among them, the output of Cr-Ni series stainless steel was approximately 4.5165 million tons, an increase of 387,100 tons or 9.37% year-on-year, accounting for 52.55%, an increase of 3.49 percentage points; the output of Cr-Mn series stainless steel was 2.3515 million tons, A year-on-year decrease of 240,100 tons, a decrease of 9.27%, and a share of 27.36%, a decrease of 3.43 percentage points; the output of Cr series stainless steel was approximately 1.6332 million tons, a year-on-year increase of 8,900 tons, an increase of 0.55%, and the share was 19.00%, a decrease of 0.29 percentage points; the output of duplex stainless steel was 94,094 tons, an increase of 21,120 tons or 28.94% year-on-year.
From the perspective of import and export, in the first quarter, China’s total stainless steel import volume was 608,100 tons, a year-on-year increase of 147,200 tons, an increase of 31.93%; the total export volume was 1.0617 million tons, a year-on-year increase of 94,500 tons, an increase of 9.77%; The total net export volume was 453,600 tons, a year-on-year decrease of 52,700 tons, or 10.41%.
From the perspective of apparent consumption, in the first quarter, China’s apparent consumption of stainless steel was 7.3084 million tons, an increase of 203,600 tons or 2.87% year-on-year.

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