Recently, the International Stainless Steel Forum (ISSF) predicted that due to the huge impact of the new coronary pneumonia epidemic on the global economy, global stainless steel consumption will reach 41.24 million tons in 2020, a decrease of 3.47 million tons from 2019 and a year-on-year decrease of 7.8%.
According to previous statistics of the International Stainless Steel Forum, global stainless steel crude steel production in 2019 was 52.218 million tons, a year-on-year increase of 2.9%. Among them, except for the increase of about 10.1% in mainland China to 29.4 million tons, other regions have declined to varying degrees.
In addition, the International Stainless Steel Forum predicts that stainless steel consumption in all regions of the world will resume V-shape due to the end of the new coronary pneumonia epidemic in 2021. The consumption is expected to increase by 3.28 million tons, an increase of nearly 8%, to 44.52 million tons.
It is understood that the International Stainless Steel Forum is a non-profit research organization involving all aspects of the stainless steel industry. It was established in 1996 and its member companies account for 80% of the world's stainless steel production.
![International Stainless Steel Forum Forecast: Global stainless steel consumption will drop by 7.8% i]()