According to the latest data released by the International Stainless Steel Forum (ISSF), in the first quarter of this year, the global output of stainless crude steel reached 14.45 million tons, which was not only less than 15 million tons for two consecutive quarters, but also decreased by 3.8% compared with the same period last year, mainly due to the decrease of more than 8% in both China and the US compared to the same period last year.

China's first-quarter stainless crude steel output was 8.011 million tons, up by 4.1% from the fourth quarter of last year, but down by 8% from the same period last year.

US' stainless crude steel production was 569,000 tons in the first quarter, up by 5.7% from the fourth quarter of last year, but down by 8.8% from the same period last year.

In the given period, China's production accounted for 55.4% of global production. As the production in China and the US both dropped by more than 8% compared with the same period last year, it caused a year-on-year decline in global production in the first quarter.