The International
Stainless Steel Forum (ISSF) released its forecast for
stainless steel
production in 2006. ISSF believes that
production in 2006 will show an improvement on 2005 in the traditional markets. Further strong growth is expected in Asia, mainly driven by
China. ISSF expects
stainless steel
production to increase 8.6 percent year on year to 26.4 million metric tons in 2006. In 2005,
stainless steel
production fell in many countries due to the significant reductions in
stainless steel stocks in service centers and fabricators. Global
stainless steel
production fell 1 percent to 24.3 million metric tons in 2005. This expected increase in 2006 is projected to compensate
production losses, which occurred in many countries during 2005.
Forecast of 2006 stainless steel production (in ’000 metric tons)
Region 2004 2005 +/-% 2006(e) +/-%
Western Europe/Africa 9.422 8.823 -6.4 9.480 7.4
Central/Eastern Europe 318 310 -2.5 320 3.2
The Americas 2.933 2.689 -8.3 2.850 6.0
Asia 11.897 12.498 5.1 13.750 10.0
Total World 24.570 24.320 -1.0 26.400 8.6