On 8 June, The International Stainless Steel Forum (ISSF) has released preliminary stainless steel production figures, representing that worldwide stainless crude steel production in the first quarter of 2009, amounted 4.8 million metric tons, decreasing by 46 percent year on year and down 12.3 percent, compared to the last quarter of 2008. According to the report, this is the lowest level of first quarter production since 2000.
Meanwhile, the stainless production in the Americas and China improved in the period in question, compared to the fourth quarter of the previous year, to 411,000 metric tons, increasing by 10.2 percent and 1,769 metric tons, up 23.7 percent respectively. The improve shown by Chinese stainless industry may be explained by the government's economic stimulus package which seems to have created some additional demand for stainless in the country, the report says, and by the modernization investments to produce value-added steel products.
According to the report, the market share of chromium-nickel steels is largely unchanged in Q1 2009 compared to the full year 2008. However, chromium stainless steels have seen a relatively large reduction in their market share which is mainly due to the global downturn in car production. The market share of chromium-manganese grades has risen somewhat, due to demand from the Chinese domestic market.
