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Home > MEPS Steel News - 31.10.2013

NEW RECORD HIGH FOR GLOBAL STAINLESS STEEL OUTPUT THIS YEAR

World crude stainless steel output is forecast to reach an all-time high figure of 36.4 million tonnes in calendar year 2013. This is in line with MEPS prior forecast and would represent a 2.9 percent increase on the previous record figure, set last year. MEPS anticipates that global production will grow by a further 4.1 percent in 2014, to a new peak volume of 37.9 million tonnes.

Worldwide output for the second quarter turned out to be lower than had previously been predicted. However, activity levels were higher than anticipated during the summer period and, consequently, production is expected to recover during the second half of the year, to achieve the earlier forecast annual figure.

Total output for 2013 is predicted to be lower than last year in the EU, South Korea and Taiwan. The outturn in Japan and USA is forecast to be marginally greater than in 2012. Production in all these countries remains significantly below the peak figures recorded in 2006.

Stainless steelmaking in China and the “Others” category, including all the other emerging nations, continues on a steady, upward trend. The proportion of the world’s stainless steel produced in these countries has risen from 30 percent in 2006 to an estimated 57 percent in 2013.

Source:
MEPS - Stainless Steel Review

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