CSSC: China's 2023 crude stainless output jumps 13% YoY
Among the total, production of all stainless series increased significantly last year, with the volume of 400-series stainless seeing the sharpest growth in percentage terms of 15.7% on year to total 6.48 million tonnes, the CSSC data showed.
China's 2023 crude stainless steel output (Unit: million tonnes)
Product |
2023 |
Y-o-Y (%) |
Share of total |
200-series |
11.28 |
13.4% |
30.77% |
300-series |
18.52 |
11.02% |
50.49% |
400-series |
6.48 |
15.71% |
17.67% |
Source: CSSC
Crucially, last year China's production of high-end duplex stainless also surged by 48,228 tonnes or 14% on year to reach 393,381 tonnes, accounting for 1.07% of the country's total output, according to the association.
The growth in China's stainless output mainly reflected the fact that domestic stainless demand remained firm last year, encouraging Chinese stainless producers to keep their production at a relatively high level, Mysteel Global learned.
For full-year 2023, China's apparent consumption of stainless steel was reported at 31.08 million tonnes, higher by 2.97 million tonnes or 10.6% compared with the previous year, according to CSSC.
However, the country's stainless exports slipped by 414,000 tonnes or 9.1% on year to 4.14 million tonnes, while the import volume reached 2.07 million tonnes, dropping by 1.21 million tonnes or 37% on year, the CSSC release showed.
For this year, market participants expect that stainless demand will keep rising, as consumption in many sectors such as for use in drainage pipes, photovoltaic brackets, marine engineering, roofing applications and fine chemicals has been increasing, and the scope for development of the stainless sector in the coming term is vast, as reported.
Written by Nancy Zheng, zhengmm@mysteel.com
Edited by Russ McCulloch, russ.mcculloch@mysteel.com
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