In the first half of 2024, global stainless steel production increased by 6.3% year-on-year to 30.37 million tons, showing strong market demand. China produced 18.75 million tons, up 5.9% year on year, accounting for the key global increase. The rest of Asia produced 3.62 million tons of stainless steel, up 9% year-on-year, indicating the broad growth potential of Asian market demand. The European market grew 0.3% to 3.14 million tons, a slower growth due to weak market demand. Production in Brazil, Russia, South Africa, South Korea and Indonesia increased by 10% year-on-year to 3.84 million tonnes, while the US market increased by 9% to 1.03 million tonnes. It is expected that the European market growth in the second half of the year will be the same as the first half of the year, with the global economic recovery, the stainless steel market is expected to maintain growth.