Markus Moll, managing director of Steel Metals Market Research (SMR), has stated that global stainless steel output in the current year is likely to increase by 7-10 percent over the figure of 34 million mt recorded last year.
Mr. Moll added that global stainless steel output in 2011 is likely to far exceed the production levels seen before the financial crisis; however, he went on to say that the profit margins of stainless steel producers will be negatively influenced by decreased prices and overcapacity.
The SMR official also said that European stainless steel output will increase by three percent in 2011 over 5 million mt in 2010.