The International Stainless Steel Forum has released figures for Q1 2014 showing that stainless steel melt shop production increased by 6.8% YoY to 10.2 million tonnes. Production increased in all regions.
With YoY growth of 3.0% Asia (without China) produced 2.2 million tonnes. Japan and South Korea recorded increases of 9.5% and 3.5% respectively. India and Taiwan, China were negative with –2.6% and –3.6% respectively. Stainless steel production in China increased by 11.1% to 5.1 million tonnes YoY. China produces about half of the world’s stainless steel.
Production in Western Europe and Africa increased by 0.2% to 2.2 million tonnes. France increased by 10.1%, but Germany declined by 18.9%, Italy by 2.4% and Austria by 2.0%.
Production increased by 11.9% to 0.7 million tonnes in the Americas and by 5.5% to 0.1 million tonnes in Central and Eastern Europe.
Stainless and heat resisting melt shop steel production [000 metric tonnes]
|Asia (w/o China)||2170||2301||2234||-2.90%||3.00%|
Source – Strategic Research Institute