MEPS predicts that global stainless steel production will hit a record high of 43.3 million tonnes in 2016, up 4.2 percent from the previous record set last year. MEPS expects further growth in global production in 2017 to reach a new peak of 45 million tonnes.
Global stainless steel production in the first six months of this year was 4 percent higher than in the same period in 2015. The annualized growth rate is expected to remain at the same level during the second half of 2016.
However, total production in 2016 is projected to be slightly lower than last year in the EU, the US, Japan and South Korea. Manufacturing in Taiwan grew substantially in the first half of this year, but the projected annual output is only about 72 percent of the 2006 peak.
China's dominance as the world's largest stainless steel producer continues to grow. The country's share of global production rose from 18.5 percent in 2006 to a projected 53.2 percent in 2016, and a further expansion of about 5 percent is slated for next year.
EU production levels have fluctuated very little over the past three years. Total production for 2016 is projected to be slightly lower than in 2015. Growth is projected for 2017.
MEPS predicts record global stainless steel production
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Azovpromstal® 3 November 2016 г. 11:21 |
