Global stainless steel consumption forecast finalized at -0.6% in 2022 and +3.2% in 2023
The world stainless news, during the October World Stainless Steel Conference, the Economics and Statistics Committee meeting held its 55th meeting on October 17, 2022, and participants reviewed the stainless steel consumption outlook. Global consumption forecasts are finalized at -0.6% in 2022 and +3.2% in 2023.
Notably, China recorded negative growth for the first time, with consumption expected to decline by -2.3% in 2022. This was the first drop since 2008. Overall, the outlook for 2023 is positive, but there is still a lot of impact uncertainty with upside and downside potential in the year ahead.