It’s really a hard year for stainless steel pipe fittings supplier

Recently, there’s a bad news for stainless steel pipe fittings supplier and other stainless steel product suppliers, the International Stainless Steel Forum (ISSF) predicted that due to the huge impact of the COVID19 epidemic on the global economy, global stainless steel consumption will reach 41.24 million tons in 2020, a decrease of 3.47 million tons from 2019 and a year-on-year decrease of 7.8%.

According to previous ISSF statistics, global stainless steel crude steel production in 2019 was 52.218 million tons, a year-on-year increase of 2.9%. Among them, except for the increase of about 10.1% in mainland China to 29.4 million tons, other regions have declined to varying degrees.

ISSF predicts that stainless steel consumption in all regions of the world will resume in 2021 due to the end of the new coronary pneumonia epidemic. Consumption is expected to increase by 3.28 million tons, an increase of nearly 8%, to 44.52 million tons.

It is understood that the International Stainless Steel Forum is a non-profit research organization involving all aspects of the stainless steel industry. Founded in 1996, the output of member companies accounts for 80% of the world’s stainless steel products (CRC, duplex pipe and fittings, stainless steel pipes, etc.).

By June 28, 2020, 06:54 GMT, the global COVID-19 CORONAVIRUS PANDEMIC stats:

• Coronavirus Cases: 10,088,576
• Deaths: 501,442
• Recovered: 5,466,534

About ISSF

The International Stainless Steel Forum (ISSF) is a not-for-profit research and development organisation which was founded in 1996 and serves as the focal point for the global stainless steel industry.