Stainless Steel Production Rates Continue to Increase

Stainless steel production around the world increased in 2012, according to preliminary figures recently released by the International Stainless Steel Forum (ISSF). The figures suggest that production levels grew by a massive 5.2%, attaining a figure of 35.4million metric tonnes, a record high.

The major increase in production came from China; other countries around the world tended to show negative growth. This negative growth was mainly due to the extensive de-stocking that took place during the year. The stainless steel production levels in Asia (with the exclusion of China) showed a decrease of 0.6%, equating to 8.7million tonnes across the countries. Production in Japan slipped to 3.2million tonnes, a decrease of 2.5%, while Taiwan lost around 7.8%. Very few of the countries in Asia saw an increase in output though both Korea and India did achieve positive growth levels of 0.5% and 5.3% respectively.

China has continued to be the principal growth area in the world for the production of stainless steel even through the recent period of reduced economic activity. Throughout 2012, production levels were increased by 14.2%, reaching over 16million tonnes based on the corrected figures for 2011/12. Asian countries now account for around 70% of the total stainless steel produced in the world.

Despite the lower production levels of 2012, Africa and Western Europe are still the second-largest producers of stainless steel. The volume produced in 2012 was 7.8million tonnes, a drop of 0.7% when compared to figures from 2011. The stainless steel growth rates of individual countries within these regions varied greatly, from -13% up to 8%. Stainless steel production in North, Central and South America dropped by 4.7% compared to 2011 levels, with a combined total output of 2.4million tonnes. Central and Eastern European output levels also dropped by 8.2% on average, with a total production of just 0.4million tonnes. In global terms, this is a negligible amount.

Throughout the constant changes in the stainless steel sector, BS Stainless Ltd continue to provide products of the highest quality at the most competitive price. Known and trusted around the world, our impressive reputation is consistently built upon through our dedication to quality and service.