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In particular, global hot rolled and cold rolled stainless steel consumption are expected to increase by 2.8 percent and 4.1 percent in 2022, respectively, both year on year. In 2023, global hot rolled and cold rolled stainless steel consumption will both increase by 3.1 percent year on year.

According to the ISSF data, in 2022 stainless steel consumption will increase by 3.4 percent in China, while increasing by 4.9 percent in the Asia region excluding China, and will move up by 5.2 percent in the US, all compared to 2021. As for 2023, stainless steel consumption is expected to increase by 3.2 percent in China, while increasing by 3.9 percent in the Asia region excluding China, and is foreseen to move up by three percent in the US, all year on year.