WSS forecasts global stainless steel consumption up 4% YoY in 2024

Global stainless steel consumption is projected to rise by 4% year-on-year by the end of 2024, according to a forecast report released on October 9 by worldstainless (WSS), a Brussels-based entity under the administration of the World Steel Association. This growth estimate slightly surpasses last year's 3.2% increase, as per the report.

Specifically, consumption of cold-rolled (CR) stainless flat sheets in 2024 is expected to rise by 4.7% year-on-year, hot-rolled (HR) stainless flat sheets by 3.6%, and stainless steel long products by 1%. However, the report forecasts a significant slowdown in China's stainless steel consumption growth this year, with a projected year-on-year increase of