China’s 2026 government work report, presented during the National People’s Congress, signals policies that could significantly support demand for stainless steel, according to analysis by Mysteel cited by BigMint.
The government’s strategy focuses on advanced manufacturing, infrastructure investment, and green energy development, all of which require high-performance stainless steel materials.
Key growth drivers include the expansion of high-tech industries such as integrated circuits, aerospace, biomedicine, quantum technologies, future energy systems, neurointerfaces, embodied artificial intelligence, and 6G communications.
Another major demand source is the new energy vehicle (NEV) sector. China produced more than 16 million NEVs in 2025, and sales could reach around 19 million units in 2026, increasing demand for stainless steel components used in automotive manufacturing.
Government investment programs targeting consumer goods upgrades, large national infrastructure projects, water management systems, and pipeline modernization are also expected to boost consumption of stainless steel.
In addition, hydrogen energy development and low-carbon transition policies may further expand demand for high-grade stainless materials used in energy infrastructure.
Globally, stainless steel production reached 64.2 million tons in 2025, up 2.1% year-on-year. Asia produced 55.3 million tons (+2.7% y/y), with China accounting for 40.87 million tons (+3.6% y/y).
Meanwhile, production declined in other regions, with EU output falling 1.9% to 5.7 million tons and US production dropping 7.6% to 2.1 million tons.
VietnamSteel by Hoa Sen Group
