Global stainless crude steel production in the first quarter of 2011 totaled 8.4 million metric tons according to the International Stainless Steel Forum (ISSF), reaching an all-time high for a first quarter. Compared to the last quarter of 2010, this figure represents an increase of 8.2 percent on already strong levels of production. Most regions reported increased production volumes in the quarter-on-quarter comparison. However, the Americas region showed the strongest growth.
Stainless and heat-resistant crude steel production | |||
Region | Q1 2011 (1,000 mt) | Q-o-q change (%) | Y-o-y change (%) |
2,215 | 19.2 | 6.4 | |
Eastern Europe | 79 | -9.7 | 8.4 |
Americas | 779 | 37 | 6.9 |
Asia (excl. China) | 2,238 | -2.4 | 0.2 |
3,076 | 4.6 | 18 | |
Total World | 8,387 | 8.2 | 8.6 |
According to the ISSF, this global growth rate in the year-on-year comparison is mainly based on strong end-user demand and on continuing replenishments of stocks at service centers and in stainless processing industries.
The ISSF does not expect that these growth rates will be sustainable over the rest of 2011. The current perception is that the markets will return to destocking due to the current high volatility of raw material quotations. For the full year, the ISSF nevertheless expects an overall increase in global stainless steel production that will see another year of record production.