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Global Production of Stainless Steel Reaches a New High Record

Global Production of Stainless Steel Reaches a New High Record

In 2013, the output of world crude stainless steel is expected to reach 36.4 million MT which is an all-time high record since ever. According to MEPS’s prior forecast, it would keep a 2.9% increment based on previous record number in 2012. MEPS also imply that global production of stainless steel will probably increase by a further 4.1% in 2014, and reach a peak volume of 37.9 million MT. In the EU, South Korea and Taiwan, the total output of 2013 is anticipated to be lower than last year. While the output of USA and Japan will be marginally greater than in 2012. Stainless steel making in China and the “Others” category, including all the other emerging nations, continues on a steady, upward trend. The proportion of the world’s stainless steel produced in these countries has risen from 30 percent in 2006 to an estimated 57 percent in 2013. Activity levels were higher than anticipated during the summer period and, consequently, production is expected to recover during the second half of the year, to achieve the earlier forecast annual figure. However, worldwide output for the second quarter turned out to be lower than had previously been predicted.