In September 2023, China's stainless steel production was recorded as approximately 3 million tons, 16% more than in the same period of 2022.
China produced 23 million tons of stainless steel in the first nine months of 2023. An 11% increase was recorded compared to 2022.
In August-September 2023, some Chinese companies increased stainless steel production in the hope that there would be an increase in demand. However, as consumption remained below normal in September, warehouses were overstocked and prices fell.
Market analysts do not foresee any improvement in stainless steel in October.
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