Global Stainless Steel Production Set For New High In 2017

Global Stainless Steel Production Set For New High In 2017

Annual global crude stainless steel production(such as stainless steel pipes, sanitary valves and sanitary fittings) for 2016 is estimated to have totally an all-time high of around 45.5 million tonnes, which represents a year-on-year increase of 9.5 percent. MEPS forecasts a further rise in worldwide out turn of around 4 percent, in 2017, to a new peak of 47.3 million tonnes.

Recently-issued, official Chinese output figures were significantly higher than earlier expectations, despite reports of plant closures. Output in other emerging economies continues to expand more quickly than in most of the traditional stainless steel making countries. However, production in Taiwan, where output has been at a historically low level in recent years, is estimated to have grown by over 10 percent, in 2016, compared with the year earlier figure. In the United States, last year’s out turn grew strongly, exceeding the previous year’s total by more than 4 percent.

In Japan and South Korea, last year’s production is estimated to have fallen slightly below the 2015 totals. Moderate increases are forecast, for both countries, in 2017. Output in the European Union, in 2016, was approximately 2 percent more than the year earlier figure. A further, marginal expansion is expected, this year.

Collected by sanitaryvalvefittings.com