Stainless Steel & Nickel Alloy Steel Industry News

In recent years, China’s stainless steel production has continued to grow. 2024 stainless steel production exceeded 30 million tons, accounting for 54% of the global total production, with a market share of nearly half. Stainless steel crude steel production is expected to reach 42.24 million tons in 2025, showing a steady growth trend.

Overcapacity and market competition

The problem of overcapacity in the stainless steel industry has come to the fore, leading to fierce competition in the market. However, this has also pushed enterprises to increase technological innovation and product development to improve product quality and performance to cope with market competition.

Equipment renewal policy drives stainless steel demand growth

National Development and Reform Commission, the Ministry of Finance issued a “notice on the implementation of large-scale equipment renewal and consumer goods trade-in policy in 2025,” to increase support for equipment renewal projects in key areas, and expand support for consumer goods trade-in. This policy and stainless steel terminal production enterprises with high degree of affinity, with the gradual release of policy dividends, will help stainless steel consumption to maintain the growth trend. Domestic stainless steel consumption is expected to increase by 3.5% to 27,066,600 tons in 2025, and drive up the total demand for stainless steel.

Global Economic Recovery and Stainless Steel Market Opportunities.

The global economy is expected to grow at a rate of about 3.5% in 2025, close to the pre-epidemic level. Against this background, stainless steel, as a basic material, is widely used in many fields such as home appliances, kitchen appliances, transportation and construction, and its market demand will continue to grow. Meanwhile, with the rise of consumption upgrading and emerging markets, the application of stainless steel in high-end manufacturing, smart home and other fields will be further expanded.