ISSF: Global stainless steel consumption expected to fall by 7.8% in 2020
According to the International Stainless Steel Forum (ISSF), global stainless steel consumption was expected to fall by nearly 7.8% to 41.24 million tons in 2020 due to the huge impact of the COVID-19 epidemic on the global economy.
It is the off-season for stainless steel now, which will generally last until August, leading to weak domestic demand. However, the overseas economy is slowly recovering, as well as stainless steel exports, which supported stainless steel prices. Therefore, the stainless steel price was expected to move in a range of fluctuations.
