STEEL OUTPUT TO TOP 40 MILLION TONNES in 2014 – MEPS INTERNATIONAL
Global crude stainless steel production is
predicted to reach a new record annual total of 40.2 million tonnes,
in 2014 as reported by MEPS. This would exceed the previous high
figure, set last year, by 5.7 percent. Output is expected to grow in
all of the major stainless steel making countries and regions.
Some of the established stainless steel producing areas are
performing more strongly than had been anticipated. Output in the
EU, in the first six months of this year, is estimated at around 4
million tonnes. A twelve-month total of 7.55 million tonnes is
forecast, representing a year-on-year increase of 5.7 percent.
Output in the United States, in the first half of 2014, has also
outstripped our previous forecast. The annual outturn for the year
is now predicted at 2.1 million tonnes, an increase of 3.4 percent
over the 2013 figure.
The recovery in Japan continues at the expected rate. Production in
the period from January to June is reckoned to be 1.65 million
tonnes. A similar figure is anticipated for the second half of the
year, to give an annual total of 3.3 million tonnes – 4 percent
greater than in the previous year.
South Korean production is predicted expected to turn out at 2.15
million tonnes for the whole of 2014. This equates to a 1.9 percent
increases over last year. Our forecast for stainless steel output in
Taiwan, this year, has been uprated to 1.125 million tonnes – a
year-on-year advance of 4.1 percent.
Expansion in the emerging economies will continue at a higher rate
than in the traditional areas. Chinese production has exceeded
expectations during the first half of 2014 and is anticipated to
expand by 6.4 percent year-on-year, to achieve an annual figure of
20.2 million tonnes – more than half of the global total.
Crude stainless steelmaking in the rest of the world is predicted at
3.775 million tonnes, this year, giving a growth rate of 7.8 percent
over the 2013 total.
Source: MEPS -
Review - July Issue
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