Equipment renewal policy to promote the growth of stainless steel consumption

Policy background: the national development and reform commission, the ministry of finance issued a notice to expand the implementation of large-scale equipment renewal and consumer goods trade-in policy.

Impact on the stainless steel industry: the policy to increase support for equipment renewal projects in key areas, and expand the support for consumer goods trade-in. As stainless steel is widely used in equipment renewal and consumer goods manufacturing, the policy dividend will help stainless steel consumption to maintain the growth trend. It is expected that by 2025 the domestic consumption of stainless steel or increase by 3.50% to 27,066,600 tons.

Stainless steel market outlook

According to industry observation and analysis, the stainless steel market may have a rebound trend in 2025. Despite the fierce competition in the market, the stainless steel industry is expected to achieve better development with the policy support and the growth of market demand.