According to the
Stainless Steel Report December 2012 issued by
Germany-based service center Damstahl, European
stainless steel crude steel
production was around 1.6 million mt in the third quarter of the year, falling from 2 million mt recorded in the second quarter of the year. However, the
production level is up two percent compared to the same quarter of the previous year. In the first nine months of 2012, European
stainless crude steel
production reached 5.7 million mt.
According to Damstahl, the European
stainless steel market does not show signs of an improvement, and demand from both end-users and stockholders has no any clear direction at the moment.
Damstahl estimates that there is not much dynamic present in the most important
stainless steel end-use segments in
Europe, including the process equipment, automotive and construction sectors. The outlook for the next months remains weak, but there are several indications that demand from end-users will improve as 2013 progresses. Damstahl noted that it is expected that the oil and gas industry will grow at double digit rates in
Europe next year. Also according to the Damstahl report, the German Mechanical Engineering Federation (VDMA) expects a growth of at least two percent in
production of process equipment in 2013.