Since China's accession to the WTO in 2001, the global industrial chain has continued to deepen. With the continuous advancement of domestic industrialization and urbanization and the continuous improvement of residents' living standards, the domestic stainless steel industry has driven the rapid development of the domestic stainless steel industry. Domestic stainless steel production capacity is deployed at a compound annual growth rate of more than 10%. The production capacity of stainless steel crude steel has increased from 730,000 tons in 2001 to 38 million tons in 2020. At present, stainless steel has formed a resource-oriented and market-demand-oriented industrial chain cluster layout. The profit growth point has changed from the initial "large input and large output" to the "large cluster, long chain, and refined" model. A large number of modern stainless steel enterprises have been built and put into production, and the homogenization of enterprises has entered a fierce stage of competition. At present, the cost of nickel raw materials is controlled, advanced smelting processes, and industrial clusters are driven, and low-cost products are used to seize market share and form competition with traditional stainless steel enterprises. Advantage.

According to estimates, the output of crude steel in 2020 is about 31 million tons, the output of commercial materials is about 28.52 million tons, the capacity utilization rate has increased to 81.6%, and the apparent consumption is estimated to be 28 million tons, with a month-on-month growth rate of about 8%. Basic match. After 2017, the national economy has shifted from high-speed growth to medium-high-speed growth. At the same time, the apparent consumption growth rate of stainless steel has a relatively high positive correlation with the national economy growth rate. In the next five years, the domestic economy will shift to high-quality development, which has huge growth potential for the current complete stainless steel consumer market:

Mature consumer market, there is still growth potential

According to data released by the Special Steel Association, my country's per capita stainless steel consumption in 2019 was 17 kg, which is far lower than the consumption level of more developed countries such as Germany, Japan, and Italy (per capita stainless steel consumption is 25 kg-45 kg). In 2019, my country's stainless steel output only accounted for 2.95% of my country's total crude steel output, which still has a certain gap with the EU's 4.27%. In the future, with the slowdown of my country’s macroeconomic growth rate and the slowdown of downstream steel consumption, my country’s apparent consumption of stainless steel will grow faster than ordinary steel. Under the general trend of increasing popularity in the industrial and civilian sectors in the future, stainless steel Of consumption is still expected to maintain steady growth.