The 14th Five-Year Plan period marks a crucial phase for China's stainless steel industry to achieve high-quality development. Facing multiple challenges including the impact of the COVID-19 pandemic, profound shifts in the global economic landscape, and domestic economic transformation and upgrading, the industry has adhered to innovation-driven, green and low-carbon, and smart manufacturing development paths. It has achieved remarkable accomplishments in industrial scale, structural optimization, international layout, and technological breakthroughs: Advancing smart manufacturing and green low-carbon transformation to elevate production standards while reducing environmental impact;

Actively expanding downstream applications to integrate new materials into major national projects and strategic emerging industries;

Leading standard-setting and brand development to strengthen global market influence.

I. Steady Growth in Stainless Steel Output with Significant Increase in Industry Concentration

During the 14th Five-Year Plan period, China's crude stainless steel output maintained steady growth. In 2020, China's stainless steel output reached 31.039 million tons. Affected by the COVID-19 pandemic, China's stainless steel exports declined significantly in 2022, leading to a slight decrease in crude steel production. Following the pandemic's conclusion in 2023, China's stainless steel crude steel output achieved rapid growth of 12.59%, reaching 36.676 million tons. China's share of global stainless steel production surged to 62.54%. By 2025, China's crude stainless steel output is projected to reach 41 million tons, further increasing its global share.

During the 14th Five-Year Plan period (2021-2025), industrial concentration in China's stainless steel sector has significantly intensified. By the end of 2025, China's stainless steel smelting capacity will exceed 50 million tons, forming major industrial groups represented by Baowu-TISCO, TISCO, and Tsingshan Group. From 2020 to 2024, the top three stainless steel producers' share of crude steel output will rise from 50.94% in 2020 to 67.30% in 2024, demonstrating a marked strengthening of industry clustering effects.

II. Accelerated Industry Structure Optimization and Product Upgrading

During the 14th Five-Year Plan period, China's stainless steel product mix underwent accelerated restructuring. The proportion of 300-series stainless steel increased from 47.99% in 2020 to 51.45% in 2024, while the share of 200-series stainless steel decreased from 32.11% to 29.32%. The proportion of duplex stainless steel rose from 0.62% to 1.04%. Production of molybdenum-containing stainless steel will rise from 1.1794 million tons in 2020 to 2.2044 million tons in 2024, with its share increasing from 3.8% to 5.59%. Output is projected to reach 2.5 million tons by 2025.

III. Accelerating Green and Low-Carbon Transformation with Significant Systemic Achievements

During the 14th Five-Year Plan period, the stainless steel industry accelerated the adoption of green production methods through systematic innovation practices, achieving systemic progress in green and low-carbon development. Comprehensive breakthroughs were realized across standard-setting, process innovation, and plant construction. Regarding standards, the Technical Requirements for Energy Consumption per Unit Product of Stainless Steel and the Technical Requirements for Carbon Emissions per Unit Product in Rolling Processes of the Iron and Steel Industry will be formally implemented in 2025. These provide normative guidance for the industry's low-carbon transition, embodying China's efforts to establish a robust green and low-carbon standard system and advance green and low-carbon transformation in key sectors. In process innovation, TISCO's “scrap-based electric arc furnace short process + BIPV (Building-Integrated Photovoltaics) green electricity from factory rooftops” model not only enhances the clean and efficient utilization of fossil fuels but also reduces the carbon footprint of its 304L medium plate products by over 75%. This achievement successfully meets the requirements of the EU Carbon Border Adjustment Mechanism and enables market access to Europe, serving as a vivid example of fostering green production methods and promoting circular economic development. At the end-use stage, Zhen Shi Group's Dongfang Special Steel is actively building an integrated system combining energy storage, distributed photovoltaics, and waste heat recovery. It is fully advancing the construction of the world's first fully green-electricity, zero-carbon stainless steel smart factory. This marks a new phase in the industry's green manufacturing journey and demonstrates resolute action to steadily advance carbon peak goals by accelerating the development of new energy systems and increasing the proportion of new energy supply.

IV. Diversified Overseas Development Models and Deepened Internationalization

During the 14th Five-Year Plan period, China's stainless steel industry underwent a profound transformation from purely exporting products to coordinating the overseas expansion of “resources, production capacity, technology, and standards.” In terms of imports and exports, China's stainless steel trade volume reached a historic high in 2022, with annual imports totaling 3.285 million tons. Driven by market expansion under the Belt and Road Initiative, China's net stainless steel exports have grown steadily, reaching 3.166 million tons in 2024. Projections indicate net exports will reach 3.5 million tons by 2025.

1) Significant Achievements in Overseas Resource and Capacity Layout

In building resource security systems, domestic enterprises have strengthened raw material supply foundations through dual efforts in overseas resource acquisition and capacity deployment: Sinosteel and Minmetals have secured chromite resources in South Africa and Zimbabwe, controlling approximately 260 million tons and 236 million tons of chromite reserves respectively; Projects like the Tsing Shan Weda Bay Industrial Park, Zhen Shi Group, and Liqin Resources' nickel iron initiatives in Indonesia, along with Xinggang Lian's chromite plant in Zimbabwe, have commenced operations, providing robust support for stable domestic supplies of nickel and chromium raw materials.

2) Overseas Production Base Development Continues to Advance

Xiangyu Group's 2.5 million-ton integrated stainless steel smelting project in Indonesia successfully completed hot commissioning, boosting Indonesia's stainless steel smelting capacity to 5.5 million tons. Yongjin Technology Group launched the first phase of its 260,000-ton-per-year precision stainless steel strip project in Thailand, filling the local gap in high-end stainless steel supply while injecting new momentum into China-Thailand industrial cooperation.

3) Steady Advancement in Cross-Border M&A and Cooperation

Juli Special Materials successfully acquired EBK, a century-old German enterprise. Leveraging strategic complementarity in technology, markets, and resources, this move expands its international high-end composite pipe business while marking a crucial step toward global expansion and building a dual-circulation development pattern. Guangdong Guangqing Metal Technology Co., Ltd. completed the acquisition of POSCO's China stainless steel operations (Zhangpu and Qingpu).

V. Multi-faceted Innovation and Application Scenario Expansion

During the 14th Five-Year Plan period, China's stainless steel industry achieved a series of breakthroughs in smart manufacturing and high-end equipment, standard innovation and brand influence, as well as pioneering application scenarios, significantly enhancing the industry's competitiveness.

1) Synergistic Development of Smart Manufacturing and High-End Equipment

In advanced processes, Yongxing Special Steel achieved a significant technological breakthrough in continuous casting of high-aluminum titanium-iron-nickel alloy billets. Qingtuo Group's 3500mm wide plate project adopted the world's first integrated short-process technology featuring “furnace coil rolling—online solution treatment—online pickling.” Zhongxing Energy Equipment Co., Ltd.'s independently developed high-strength stainless steel seamless pipe spin-rolling technology provides crucial support for China's nuclear power equipment and deep-sea equipment materials to achieve self-reliance and industry upgrading.

In intelligent development, Fushun Special Steel's domestically first intelligent high-alloy plate production line adopts a “big data centralized control” model, improving product precision by 65%. Liyang Delong Metal Technology Co., Ltd.'s 2680mm stainless steel hot rolling line stands as the world's largest wide-width stainless steel production line, incorporating multiple independently developed innovations that fill several domestic technological gaps; Wuhan Qianye Engineering's 20-roll precision reversible cold rolling mill for stainless steel achieved its first export to Japan, marking a shift from importing to exporting high-end equipment; Shanxi Fujian Stainless Steel introduced China's first 1550mm 20-roll cold rolling mill with micron-level precision.

Meanwhile, a wave of smart factories has emerged. Yangjiang Hongwang established a “lights-out factory” for stainless steel production, while Guangxi Hongyi New Materials' high-end stainless steel deep processing project created Wuzhou City, Guangxi Zhuang Autonomous Region's first fully automated “lights-out factory.” Shanxi Taigang Stainless Steel's “fully closed-loop controlled intelligent stainless steel cold rolling factory” and Jiuli Special Materials' “all-element integrated intelligent factory for special alloy pipes” were selected for the National Excellence-Level Smart Factory Program. Additionally, Shangshang Desheng Group achieved two consecutive years of “zero workplace injuries” and three years of “zero industrial wastewater discharge” through digital systems like “AI-EHS Intelligent Safety Production Decision-Making,” earning recognition as a Zhejiang Provincial AI Application Scenario. TISCO Group launched its “Qianmian Yunzhi” intelligent operation and maintenance platform, establishing an intelligent equipment maintenance ecosystem.

2) Continuous Advancements in Standard Innovation and Brand Influence

China's stainless steel brands have seen rising recognition for their value and social responsibility, evolving from adhering to international standards to leading their development.

In international standardization, 2022 witnessed a major breakthrough: China's proposal to revise the international standard “Determination of Chromium Content in Chromite Ore and Chromite Concentrates—Titrimetric Method” was approved for development.

3) Pioneering Application Scenarios: From Major Projects to Daily Life, and from Traditional Sectors to Emerging Strategic Industries

VI. Increased R&D Investment Yields Abundant Results

During the 14th Five-Year Plan period, China's stainless steel enterprises achieved breakthroughs in transitioning from “following” to “leading” in high-end alloys and specialty stainless steel through intensive R&D investment and innovative mechanisms. They also resolved multiple critical challenges related to strategic new steel materials.

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