A very acute question. I don't think it has nothing to do with the construction industry as you can see below. In fact, it seems like it is used directly in construction and indirectly (for appliances etc) to fitout new residential/commercial buildings. As result, I'd say stainless steel is closely tied to the news currently going on in China around iron ore and Evergrande. I also know the Chinese Government's historical response to economic distress has been steel-intensive stimulus. There are just too many employed in the steel, construction and downstream industries. We haven't really seen a stimulatory response, but if and when that happens, commodity prices will rise again imo.

From the tiny fork on the table to the highest skyscraper, stainless steel has become an integral part of modern life.

Stainless steel’s strength, 100% recyclability, corrosion resistance, mechanical efficiency, low maintenance make it the ideal material for all kinds of applications.

There are 150+ grades of stainless steel, among which only 15 are abundantly used in everyday applications.

Uses of Stainless Steel

Below are some of the most common uses of stainless steel.

1. Food and Catering

Stainless steel is commonly seen as kitchen accessories, cutlery, and cookware. From knife blades with sharp edges to molded shapes like cookers, grills, sinks, saucepans- the presence of stainless steel is essential. It’s also used as a finish for refrigerators, countertops, and dishwashers.

2. Offshore Technology

In offshore technology, stainless steel is mainly used in the pipework. They are used to transport hydrocarbons, petrochemicals, etc. for seawater systems. They are often the best choice for offshore systems given their resistance to corrosive effects of seawater.

3. Seawater Desalination Plants

Stainless steel’s great mechanical properties make it an essential material for seawater reverse osmosis units (SWRO).

4. Chemical Industry

Chemical plants expose metals and equipment to an extremely harsh environment. Stainless steel offers the best solution to withstand the corrosion elements.

5. Bridges

Duplex stainless steels, a recent family of stainless steel alloy, is becoming increasingly popular in bridges and other engineering structures as these steels are typically twice as strong as ferritic alloys. Because of their increased strength, less material is needed, thus becoming more cost and weight efficient.

6. Storage Tanks

Stainless steel tanks are regularly used to hold corrosive substances such as chemicals, gases, and many other bulk materials, including food and water. It doesn’t add any flavor or smell to foods and water, which is another advantage.

7. Medical Industry

By alloying stainless steel with Chromium, Nickel, and Molybdenum, the surgeon gets some important qualities for his/her materials.

• Chromium- Increases scratch and corrosion resistance of equipment- essential for cleansing and sterilizing.
• Nickel- provides a smooth, polishable surface – much needed for machine precision.
• Molybdenum- provides hardness after forming; thus used in cutting edges like scalpels.

8. Civil Engineering

Stainless steel possesses similar desired properties of usual steel but eliminates disadvantages like corrosion. As a result, stainless steel has become increasingly popular as a construction material.

9. Power Plants

A power generation plant requires materials that endure high temperatures and extreme pressure. That’s why stainless steel is an obvious choice in heat exchangers, reactor tanks, pressure tubes, transformer enclosures and more.

10. Shipbuilding Industry

Duplex stainless steel is used to construct the cargo tanks while the austenitic grade is used for inland navigation tankers. Duplex stainless steel is being used in shipbuilding increasingly thanks to its mechanical efficiency.