Stainless Steel Industry in China Is Developing Rapidly

Stainless steel industry in China is developing rapidly. The stainless steel production in 2005 is 14 times more than 1998. During the 2005 to 2009 annual growth rate of 30.29%. Chinese crude stainless steel production in the proportion of total global from 7.78% in 2003 increase to 26.79% in 2009. Stainless steel consumption has risen in 2009. Consumption of 8.22 million tons, which increased more than 1.98 million tons in 2008. After some years of development, Chinese stainless steel industry have constantly improving in species and structure. The proportion of ferritic stainless steel has achieved the international average level. Domestic stainless steel self-sufficiency rate to 85% or more. World stainless steel industry has recovered. Stainless steel goes into the scale industrial production have 50 years. In recent 20 years, the world stainless steel industry gets accelerated development. By the influence of the financial crisis, global stainless steel production output in negative growth in recent years. According to ISSF statistics, in the first quarter of 2010, global crude stainless steel production close to 7.5 million tons. Almost reached the highest level of the same period in history. According to ISSF expected, with the gradual recovery of the global economy, stainless steel production in 2011 will be growth about 11-12%. Source: al-metal.org