International Stainless Steel Forum preliminary figures show that global stainless steel melting activities increased by 24.9% to a new record high of 30.7 million metric tons (mmt). The increase came after 3 years of declining stainless steel production driven by stock cycles and global economic crises.
ISSF credited the recovery to several factors:
• economic recovery
• strong end-use demand
• re-stocking at service centers and fabricators
• re-filling of the internal supply chain in the stainless steel mills, which alone can count for half a million tons
Stainless steel melting growth in Asia in 2010:
• Asia (without China) increased 20.8% to 8.6 million tons
• Japan increased 31.5% to 3.4 mmt, thus partially compensating for heavy losses in previous years
• Korea increased 22.1%
• India increased 17.6%
• Taiwan was up 3.2%, which ISSF characterized as flat
• China, even in recent years of global economic crises, was a driving force in stainless crude steel production and it added 27.8% production growth in 2010 to almost 11.3 mmt.
• Asian stainless steel producers as a whole now account for 65% of the world’s stainless steel production.
The Western Europe plus Africa region reported a 22.1% increase in stainless steel production in 2010 for a volume of slightly less than 7.9 million tons. All countries of this region except South Africa contributed to this growth. The growth rates of the major producing countries ranged from 14% to 37%.
The Americas grew stainless crude steel melting 34.4% to 2.6 million tons.
Central and Eastern Europe’s production showed an increase of 43.6% to 0.3 mmt.
to Daily News