Global stainless steel consumption to grow by 11% in 2021
According to calculations, the global flow of stainless steel scrap in 2019 has reached 9.8 million tons.
In 2019, Europe imported more than 250,000 tons of stainless steel scrap from Russia (a year-on-year increase of 10%), and nearly 600,000 tons of stainless steel scrap was shipped from Europe to India (a year-on-year increase of 7%).
By 2030, the global market share of 300 series stainless steel will increase from 54.1% in 2019 to 59.3%, which represented an increase in the nickel and scrap market.
Although the impact of COVID-19 began last year, global stainless steel consumption will increase by 11% in 2021. China, which consumes more than 21 million tons per year, still has a 3% growth last year.
Although consumption in Europe and the United States will fall by 13% in 2020, it will increase by 16% and 19% respectively in 2021.
