Global stainless steel output rises in Q1
Data published by the International Stainless Steel Forum (ISSF) show that global stainless crude steel production rose 7.4% year on year to 6.5 million metric tons (mmt) in the first quarter of 2005. Asia, with production of 3.3 mmt of stainless crude steel, was the largest stainless crude steel producing region. Asia's first quarter production showed a 14.2% increase over the last year. China and India, where new capacities are in the commissioning phase, fuelled the production increase. South Korea and Taiwan also posted strong growth rates, but production in Japan was flat. Stainless steel production in Western Europe/Africa was recorded as 2.4 mmt in the first quarter, up 2.6% from a year earlier. This growth rate compensates the losses in the first quarter of 2004, when the region was hit by bad weather conditions and strikes in some mills. The Americas' stainless crude steel production fell 1.1% to 731'000 mmt in the first quarter. The production halt in Canada impacted the decline. Production also fell 21.1% year on year to 55'000 mmt in the Central and Eastern Europe. ISSF expects global stainless steel production to grow 5% to 25.8 mmt in 2005.Stainless crude steel production (in ’000 metric tons) Q1 Region 2004 2005 % Change Western Europe/Africa 2'373 2'434 +2.6 Central and Eastern Europe 70 55 -21.1 The Americas 738 731 -1.1 Asia 2'887 3'292 14.2 Total World 6'067 6'517 7.4