GLOBAL STAINLESS STEEL
OUTPUT AT A NEW RECORD HIGH IN 2012
Official figures for worldwide crude stainless steel output in 2012
are estimated to have recorded another all-time high figure of 34.6
million tonnes, 2.6 percent higher than the previous peak, which was
achieved one year earlier. Of the traditional stainless steel
producing nations, only South Korea exceeded the previous year's
outturn. The European Union, the United States, Japan and Taiwan all
produced less than in 2011.
Chinese stainless steel production is known to be under-reported.
The latest official figures show output rising by 7.6 percent in
2012, to nearly 15.3 million tonnes. Although the published numbers
have been significantly uprated over the past year, they may still
understate production by as much as one million tonnes per year.
Global stainless steel output is forecast to reach another new
record level in 2013, in excess of 36.3 million tonnes. This would
represent a year-on-year increase of 5.1 percent. The majority of
the increase will come from emerging economies such as China and
India. Production in most of the developed nations is anticipated to
return to positive growth this year.
Source: MEPS -
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