The International Stainless Steel Forum (ISSF) released its forecast for stainless steel production in 2006. ISSF believes that production in 2006 will show an improvement on 2005 in the traditional markets. Further strong growth is expected in Asia, mainly driven by China. ISSF expects stainless steel production to increase 8.6 percent year on year to 26.4 million metric tons in 2006. In 2005, stainless steel production fell in many countries due to the significant reductions in stainless steel stocks in service centers and fabricators. Global stainless steel production fell 1 percent to 24.3 million metric tons in 2005. This expected increase in 2006 is projected to compensate production losses, which occurred in many countries during 2005.
Forecast of 2006 stainless steel production (in ’000 metric tons) Region 2004 2005 +/-% 2006(e) +/-% Western Europe/Africa 9.422 8.823 -6.4 9.480 7.4 Central/Eastern Europe 318 310 -2.5 320 3.2 The Americas 2.933 2.689 -8.3 2.850 6.0 Asia 11.897 12.498 5.1 13.750 10.0 Total World 24.570 24.320 -1.0 26.400 8.6