At the same time, opportunities for stainless steel producers in the country to expand their capacity given this increased popularity would also drive fresh demand for upstream products such as nickel pig iron (NPI) and ferro-chrome, sources added.
The average carbon dioxide (CO2) emissions from steel production is about 1.85 tonnes CO2 per tonne of steel produced, according to the World Steel Association (WSA). This compares with an average of 2.23 tonnes for each tonne of stainless steel produced.
“But considering its durability, stainless steel is obviously environmentally friendly,” Shaoliang Zhong, deputy director general of the WSA's Beijing office, said at the China Stainless and Special Alloy Industry Forum in October.
For example, to achieve a 150-year lifecycle for a piece of machinery, the CO2 emissions will be 3.3 tonnes for each tonne of stainless steel used, while that for one tonne of carbon steel will be 4.3...