GLOBAL STAINLESS STEEL
OUTPUT IN 2014 TO BE ANOTHER RECORD HIGH - MEPS
World crude stainless steel production is
predicted to reach an all-time high of 41 million tonnes in calendar
year 2014. This represents a 7.8 percent increase on the previous
record figure, set last year.
Amongst the established stainless steelmaking regions, total output
for 2014 is forecast to be higher than last year in the EU, United
States, Japan and Taiwan but lower in South Korea. Production in all
these countries remains below the peak figures recorded in 2006.
Chinese output continues on a steady, upward trend. The proportion
of the world’s stainless steel made in China has increased from 18.5
percent in 2006 to an estimated 51 percent in 2014.
Demand in the EU has been strong during the summer but has now begun
to slow. Nevertheless, year-on-year output is forecast to grow by
6.4 percent, to 7.6 million tonnes, in 2014.
The economic recovery in the United States continues to gather pace.
Stainless steel production is expected to total 2.2 million tonnes
in 2014 – 8.4 percent more than last year.
Japan’s 2014 outturn is foreseen at 3.375 million tonnes,
representing a healthy, year-on-year increase of 6.3 percent.
Another disappointing result is anticipated for South Korea. The
2014 total is likely to be 1.6 percent less than last year’s figure.
Source: MEPS -
Review - October Issue
Free Sample copy
Stainless Steel Review