GLOBAL STAINLESS STEEL
PRODUCTION SET FOR NEW HIGH IN 2017 - MEPS
Annual global crude
stainless steel production for 2016 is estimated to have totalled an
all-time high of around 45.5 million tonnes, which represents a
year-on-year increase of 9.5 percent. MEPS forecasts a further rise
in worldwide outturn of around 4 percent, in 2017, to a new peak of
47.3 million tonnes.
Recently-issued, official Chinese output figures were significantly
higher than earlier expectations, despite reports of plant closures.
Output in other emerging economies continues to expand more quickly
than in most of the traditional stainless steelmaking countries.
However, production in Taiwan, where output has been at a
historically low level in recent years, is estimated to have grown
by over 10 percent, in 2016, compared with the year earlier figure.
In the United States, last year’s outturn grew strongly, exceeding
the previous year’s total by more than 4 percent.
In Japan and South Korea, last year’s production is estimated to
have fallen slightly below the 2015 totals. Moderate increases are
forecast, for both countries, in 2017. Output in the European Union,
in 2016, was approximately 2 percent more than the year earlier
figure. A further, marginal expansion is expected, this year.
Source: MEPS -
Review - January Issue
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