ISSF expects 5% increase in stainless steel output

ISSF expects 5% increase in stainless steel output

The International Stainless Steel Forum (ISSF) expects global stainless crude steel production to increase 5% year on year to 25.8 million metric tons in 2005. The 2005 forecast of ISSF showed a decrease of 100'000 metric tons compared to previously forecast. Asia claimed the top spot as the largest stainless steel producing area in the world. Asia's total production rose 12% year on year to 11.9 million metric tons in 2004. In 2005, the region's stainless crude steel production is expected to reach 12.8 million metric tons, up 7.6% year on year. The second largest stainless producing area is Western Europe/Africa, despite strikes and adverse weather conditions negatively impacted production in the first quarter of last year. The stainless crude steel production in this area will likely to increase 2.5% to 9.7 million metric tons. The Americas' production will up slightly from 2.9 million metric tons in 2004 to 3 million metric tons in 2005. This represents a year-on-year rise of 2.4%. Growth in the Central and Eastern Europe will also be flat in 2005. ISSF expects production to increase 2% to 350'000 metric tons over the year.