One of the leading market representatives stated that China's stainless steel industry is showing resilience despite the disruptions caused by Covid-19 in the global stainless steel industry and is full of opportunities. According to the information given by the participants of the International Stainless Steel Industry Conference on Innovation and Development, which was held for the first time, the production of China, the world's largest stainless steel producer and consumer, increased by 1.64% compared to the previous year and exceeded 30.6 million tons in 2021. , open consumption increased by 1.92 percent and approached 26.1 million tons. Focusing on the high-quality development of the global stainless steel industry, the two-day conference kicked off Tuesday in Ningde, eastern China's Fujian province. China's self-developed stainless steel products in recent years, especially in chemical,
China still lags behind in core technology and innovation capacity, despite extensive stainless steel production and a full selection of types and properties. Names from within the industry say that beyond the risks posed by Kovid-19, the industry also faces high dependence on raw materials from foreign sources and international price fluctuations.
"There is clear space for the development of China's stainless steel industry," said Frank Zhong, chief representative of the Beijing office of the World Steel Association, at the conference. Zhao said that as steps towards environmental protection increase in the world and standards in downstream markets continue to improve, China's stainless steel industry should also increase investment in innovation in terms of production technology and application, accelerate the green transformation and continue to expand its global market share.
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