Global stainless steel output down

Tue 16 Sep 2008

Preliminary figures released by the International Stainless Steel Forum show that global stainless steel crude steel production decreased in the first half of 2008 by 1.8 percent compared with the previous year.

The drop in output was 2.9 percent in the first quarter but just 0.6 percent in the second and all major regions have recorded lower production volumes.

The smallest drop came from Western Europe and Africa, which together represent the world's second largest producing area, after it reported a 0.8 percent decrease in stainless steel production during the first six months of 2008.

Total production was 4.9 million tonnes for the half year.

In Asia, stainless steel production fell by 1.5 percent to 8.3 million tonnes in the first half of 2008, with all stainless steel producing countries reducing their production except China.

For individual countries, the rates of decrease range between 6 percent and 13 percent.

With an increase of 10 percent, China is the only country in the region to increase stainless steel production to a total of 3.9 million tonnes in the first six months of this year.

The Americas reported the largest fall in first half production after stainless crude steel production declined by 6.4 percent to 1.4 million tonnes in the first six months of 2008.

On a quarter-by-quarter basis, production in the first quarter of 2008 declined by 2.9 percent.

By comparison, production in the first and second quarters of 2007 was "extremely strong," said ISSF.

In the second quarter of 2008 the decline is just 0.6 percent compared with the same period of 2007.

Total world stainless crude steel production was 7.4 million tonnes in both the first and second quarters of 2008.

Source Business Report

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