Worldwide stainless steel crude steel production increased 2.9% in the first nine months of 2012 compared to the first nine months of 29011, according to preliminary figures from the International Stainless Steel Forum (ISSF). Production in the first three quarters was 26.1 million metric tons (Mt), up 0.7 Mt from 2011.
Worldwide production in the third quarter of 2012 was 8.3 Mt, which was a new all-time high for a third quarter.
IN the first nine months of 2012, stainless steel production was down 0.2% in Asia (excluding China) to 6.6 Mt. Growth rates of the individual stainless producing countries in Asia varied. Indian, for example, was up 5%, which Taiwan was down 4%.
China increased its stainless steel production in the first nine months of 2012 by 7.9% to 11.4 Mt. China now accounts for about 44% of the world's stainless steel production, up from 42% one year ago.
Asia, with China included, accounted for just under 70% of global stainless steel production in the first nine months of 2012, and ISSF said this share is increasing.
Western Europe/Africa is now the third largest stainless producing area in the world. After the first nine months of 2012 the Western Europe/Africa increased by 0.7%. Production in the region in the third quarter of 2012 was 6 Mt. European nation's production variations ranged from down 11% (UK, Sweden, Germany) to up 12% (Finland).
Production in the Eastern Europe region was down 10.6% in the first nine months to 0.3 Mt.
Stainless crude steel production in the Americas region was down 5.5% to 1.8 Mt in the first three quarters of 2012.
to Daily News