Global stainless steel production increased by 6.2% in Q1 of 2025

Global stainless steel production increased by 6.2% in the period from January to March 2025 compared to the same period in 2024, reaching 15.55 million tons. However, this production decreased by 6.2% compared to the fourth quarter of 2024, according to data from the World Stainless Steel Organization. In Europe, including Ukraine, stainless steel production reached 1.61 million tons in the first quarter of the year, an increase of 2.9% year-on-year and 15.9% quarter-on-quarter. In the United States, production reached 533,000 tons, achieving an 8.6% year-on-year growth and a 25.4% quarter-on-quarter increase. In Asia—excluding China and South Korea—production declined in the same period by 3.3% year-on-year and 7.7% quarter-on-quarter, reaching 1.78 million tons. China's production, in contrast, reached 9.62 million tons, registering an 11.2% annual growth, but declined by 10.4% quarter-on-quarter. Other countries, including Brazil, South Africa, Indonesia, South Korea, and the Russian Federation, saw production declines of 4.5% year-on-year and 3% quarter-on-quarter, bringing their total production to 1.98 million tons. Global stainless steel production is expected to increase by 7% in 2024 compared to 2023, reaching 62.621 million tons, according to GMK.