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Home > MEPS Steel News - 01.05.2014

NEW GLOBAL CRUDE STAINLESS STEEL RECORDS IN 2013 AND 2014 - MEPS

Worldwide total crude stainless steel output in 2013 reached an all-time high figure of 38.13 million tonnes. This exceeds the last peak, achieved the previous year, by 7.8 percent. MEPS predicts that global production will grow by a further 3.6 percent, this year, to reach a new record of 39.5 million tonnes.

Global outturn in 2013 was higher than previously forecast. However, production in the EU, South Korea and Taiwan was lower than in 2012. Output in the United States and Japan began to trend upwards, albeit remaining significantly below the peak, pre-crisis figures achieved in 2006.

Production in China and other developing nations continues to expand at a faster pace than in the established stainless steelmaking countries.

China’s output climbed more quickly than had been predicted, to total almost 19 million tonnes, last year. Although the rate of growth is expected to slow in 2014, the forecast outturn of 19.75 million tonnes would represent exactly half of all worldwide production.

Output in countries in the “Others” category is predicted to increase by over 6 percent, in 2014, to reach 3.825 million tonnes.

While there are signs of economic recovery in the EU, producers in this region have lost market share, globally. Output in 2013 was down by 4 percent, year-on-year, at less than 7.2 million tonnes. A moderate recovery, to 7.3 million tonnes, is anticipated this year.

Production in the United States grew by more than earlier forecasts, to just over 2 million tonnes, in 2013. However, the outturn this year is expected to remain at a similar level.

Japanese stainless steelmaking showed modest annual growth of 1.2 percent, in 2013. A stronger upturn is predicted in 2014, to achieve a total of 3.3 million tonnes – up 4 percent on the year earlier figure.

Output in South Korea is expected to turn around, with a 3 percent, year-on-year, increase this year, following a small drop in 2013.

Production in Taiwan decreased by 25,000 tonnes last year, compared with the previous twelve month period. However, the outturn in 2014 is forecast to be close to the 2012 figure.

Source: MEPS - Stainless Steel Review

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