Wood Mackenzie recently predicted in a report that due to the increased demand for batteries and energy storage equipment after the transition to green energy, the demand for alloys in the industrial sector will surge.

The global crude stainless steel output was expected to increase from 62 million tons this year to 90 million tons in 2050. It was expected that China will lead the growth of stainless steel production, accounting for 60% of the global production.

In the EU, the US, Japan, and other countries, the input ratio of stainless steel scrap is more than 50%. The use of scrap stainless steel in China will increase significantly in the future.

For alloy steels, the demand for chromium, ferrosilicon, and manganese is expected to increase. In particular, it was expected that the demand for manganese in the battery field will increase by more than 5 times by 2040.