Worldwide stainless steel production grew 3.3% in 2011 to 32.1 million metric tonnes (Mt), a new record for a single year, according to preliminary data from the International Stainless Steel Forum (ISSF).
ISSF data indicates there was some destocking noted in the third quarter of 2011, this was partially compensated for in the fourth quarter. The increase in 2011 production comes after a 25% increase in 2010.
Not all stainless producing regions developed at the same pace in 2011. Production by regions in Asia in 2011:
* Asia (excluding China): down 2.7% to 8.8 Mt in 2011
* Taiwan: down 20.6%
* Japan: down 5.3% to 3.2 Mt
* Korea: up 5.3%
* India: up 7.0%
China remained the driving force in stainless steel production with growth of 11.9% in 2011 to 12.6 Mt. Asia, with China included, now accounts for 66.5% of all the worldwide stainless steel production.
Stainless steel production in Western Europe/Africa largely stagnated in 2011, according to ISSF stats, with volume of just under 7.9 Mt. Growth rates of countries in the region ranged from -5% to +18%.
In Central/Eastern Europe, production rose by 14.1% to 0.4 Mt, but ISSF noted that the volume is tiny in a global context.
In the Americas, stainless production rose to 2.5 Mt, up 4.7% from 2010.
to Daily News