The latest data from the World Bureau of Metal Statistics (WBMS) shows that global consumption and stainless steel production in 2015 fell by around 9% and 10% respectively.
As the stainless steel industry emerged from the long-term inventory cycle, the top consumer countries in China is mainly responsible for the strong growth in 2016, the total demand for 35.153 million tons.
India's second largest consumer (last year overtaken the United States), grew by 7.6% to close to 2.4 million tonnes. Japan was also a strong performance, almost eliminating the shrinking last year, South Korea's increase is more moderate at 3.3%.
At the same time, due to the significant growth of Germany and Italy, the growth of the United States more or less stagnant, while Europe increased by 4%.
The report covers a wide range of trade in slabs, blooms and billets through different thicknesses of cold rolled plates to welded pipes and pipes, showing that exports of all stainless steel products increased by nearly 6% last year. But this is down 2.3% from last year.
China is a major exporter of 2016 forms, including 43% slabs, 32% hot rolled coils and 29% seamless tubes. China is also the largest exporter in cold rolled sheet and strip, but Taiwan's closest rival price is 784,000 tons, or 15% or 1.334 million tons.