Global stainless steel output up in H1

Global stainless steel output up in H1

Global stainless steel production rose 5.5 percent year on year in the first half of 2005 mainly due to an increase in Asia. Data from the International Stainless Steel Forum (ISSF) show that world stainless steel production reached 12.9 million metric tons in the first half of 2005. Asia was the only region where stainless steel production grew in the first half, rising 13.4 percent to 6.5 million metric tons. China (54 percent) and India (10 percent) were major contributors to the growth. The production in Western Europe/Africa decreased 0.4 percent due to strikes at two major stainless steel mills. The stainless steel production amounted to 4.9 million metric tons in the region. The Americas saw stainless steel production drop 2.2 percent to 1.5 million metric tons. Production in Central and Eastern Europe fell 24.7 percent to 118'000 metric tons largely due to a sharp decline in Russia's output. The weaker than expected general economic development led to a decline in growth rates when each quarter of 2005 is compared its 2004 counterpart. Higher stainless steel prices might have also affected the global demand.

Stainless crude steel production (in ’000 metric tons)

                              First 6 months
Region                       2004        2005    % Change 
Western Europe/Africa        4'885       4'866      -0.4
Central and Eastern Europe     156         118     -24.7
The Americas                 1'492       1'460      -2.2
Asia                         5'735       6'503      13.4
Total World                 12'269      12'947       5.5