It was reported that China's stainless steel output was likely to rise by 5% in 2020, less than the 11% increase in 2019. Also, the compound annual growth rate in China's domestic stainless steel production from 2020-2022 would be 2%.

The need for traditional sectors of food devices, building decoration and home appliances will keep steady in the future 3 years. Besides, the growth of demand from stainless steel water pipes and stainless steel roofs in the emerging markets was also optimistic.

Separately, the downstream sectors such as petrochemical and equipment sectors were still the main industries to push stainless steel consumption.