Global stainless steel production increased by 6.2% y/y in Q1

Global stainless steel production in January-March 2025 increased by 6.2% compared to the same period in 2024 to 15.55 million tons. Compared to the previous quarter, the figure decreased by 6.2%. This is evidenced by the data of the non-profit organization World Stainless Association.

During this period, Europe, including Ukraine, increased stainless steel production by 2.9% y/y and 15.9% q/q – to 1.61 million tons. The United States increased its output by 8.6% y/y and 25.4% q/q over 3 months to 533 thousand tons.

In Asia, excluding China and South Korea, stainless steel production in January-March 2025 fell by 3.3% y/y and 7.7% q/q – to 1.78 million tons, while China produced 9.62 million tons of stainless steel in the same period, up 11.2% y/y but down 10.4% q/q.

Other countries, including Brazil, South Africa, Indonesia, South Korea, and the Russian Federation, reduced stainless steel production by 4.5% y/y and 3% q/q – to 1.98 million tons.

As GMK Center reported earlier, global stainless steel production in 2024 increased by 7% compared to 2023 to 62.621 million tons. Over the year, Europe, including Ukraine, increased stainless steel production by 1.5% y/y – to 6.09 million tons. The United States increased its output by 6.9% y/y over 12 months to 1.95 million tons. During the same period, China produced 39.44 million tons of stainless steel, up 7.5% y/y. In Asia, excluding China and South Korea, stainless steel production last year increased by 6.4% y/y – to 7.32 million tons.