World production of stainless steel set a new record

Global production of stainless steel in 2012 amounted to 34 million 600 thousand tons, which is 2.6% higher than last year's record indicator.

The locomotive of the growth of stainless steel production was South Korea, which significantly increased volumes. However, in the European Union, the USA, Japan and Taiwan, stainless steel smelting has slightly decreased. It is reported by Meps.

Data on the Chinese production of stainless steel, MEPS analysts consider almost 1 million tons underestimated. According to the National Statistics Service of China, in 2012, 15 million 500 thousand tons of stainless steel were melted in 2012, which is 7.6% more than in 2011.

According to analysts, global stainless steel production in 2013 will set a new record and increase to 36 million 300 thousand tons, i.e. 5.1% higher than in 2012.

A larger number of stainless steel will be produced in developing countries, while production in developed countries, as MEPS experts expect, will return to positive growth in 2013.