GLOBAL STAINLESS STEEL
OUTPUT TO EXPAND IN 2017 TO NEW RECORD HIGH - MEPS
Worldwide crude stainless
steel production, in 2016, reached an all-time high total of nearly
45.8 million tonnes. This represents an increase of more than 10
percent, compared with the year earlier figure. MEPS predicts that
global output will grow by around 3.75 percent, in 2017, to achieve
a new record high mark of around 47.5 million tonnes.
Outturn in all of the long-established stainless steelmaking
countries increased, year-on-year, in 2016, after most had recorded
a contraction in the previous twelve months. Production continued to
grow, strongly, in China and in the developing nations.
Despite earlier expectations that stainless steel output growth, in
China, would slow down, rapid expansion continued, in 2016. The
country’s official annual total was reported at nearly 25 million
tonnes - an increase of more than 15 percent, compared with the
previous year. This equates to almost 55 percent of the world
aggregate figure. With antidumping measures, in many countries,
restricting global exports, China has recently made moves to curb
its rate of expansion.
After a slight dip, in 2015, production in the United States
returned to its trend of robust growth, increasing by more than 6
percent, last year, to total around 2.5 million tonnes. MEPS
predicts that output will expand by a further 2 percent, in 2017.
Crude stainless steel production recovered strongly, in Taiwan, in
2016 – increasing by almost 14 percent, year-on-year, to exceed 1.25
million tonnes, for the first time since 2010. More moderate growth
is forecast for this year.
Annual outturn advanced by between one and two percent, in the EU,
Japan and South Korea, last year. Further, steady expansion, of a
similar magnitude, is foreseen, in these markets, in 2017.
Source: MEPS -
Review - April Issue
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