ISSF Reports 6% Surge in 2017 Stainless Steel Production

The US reported significant jump in production during the year. The production totaled 2.754 million metric tons.

SEATTLE (Scrap Monster): The International Stainless Steel Forum (ISSF) has released the yearly production statistics for 2017. All regions across the world registered rise in output during the year. The global stainless steel production surged higher by 5.8% during the year to total 48.1 milion metric tons. The production had totaled only 45.4 million metric tons in 2016.

The European stainless steel production edged higher marginally by 1.3% over the previous year from 7.280 million mt in 2016 to 7.377 million mt in 2017. The US reported significant jump in production during the year. The production totaled 2.754 million metric tons, higher by nearly 11% when compared with the production of just 2.481 million metric tons in 2016. The Chinese production jumped higher by 4.7% year-on-year from 24.608 million metric tons to 25.774 million metric tons.

The Asian region without China and South Korea recorded 4.5% jump in output. The production by these countries totaled 8.030 million metric tons during 2017. The other countries comprising of Brazil, Russia, South Africa, South Korea and Indonesia reported 22% jump in output. The combined production b these countries totaled 4.146 million metric tons during the entire year 2017, as compared with 3.399 million metric tons in the prior year, ISSF data said.

ALSO READ: World Stainless Steel Output Up 5% in First Half of 2017

The quarterly stainless steel production by world countries totaled   12.545 million metric tons, marginally higher when compared with the output of 12.536 million metric tons during Q3 ’17. The Q4 ’17 output witnessed modest jump when matched with the output of 12.158 million metric tons in the corresponding quarter in 2016. Europe, USA and Asia without China and South Korea and Others reported marginal production jump, whereas Chinese production declined over the corresponding quarter in 2016.

The world stainless steel output (in million metric tons) had totaled 11.664, 11.335 and 12.536 respectively during the initial three quarters of the current year.

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