25 February 2024
During the course of the worldstainless October meetings the Economics & Statistics Committee meeting came together in its 55th session on October 17th, 2022 where participants reviewed stainless steel consumption prospects. The global consumption forecast was finalized at -0.6% for 2022 and at +3.2% in 2023.
Within the first of these numbers it is noteworthy that this is the first time that China has displayed a negative growth rate with an expected consumption decline of -2.3% in 2022. This represents the first decline since 2008. In general, the outlook for 2023 is positive, however a number of influencing uncertainties with both upside and downside potential remain for the forthcoming year.
Download regional and global consumption changes graphs here