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Stainless Steel December 21, 2017 02:30:22 PM

Global Stainless Steel Output Surged 7.4%

Paul Ploumis
ScrapMonster Author
The global stainless steel production during the opening nine months of 2017 totaled 36.08 million metric tons, which stood higher by 7.4% when compared with the output of 33.585 million mt during the corresponding period in 2016.

Global Stainless Steel Output Surged 7.4%

SEATTLE (Scrap Monster): The International Stainless Steel Forum (ISSF) has published the production statistics for the first nine-month period of 2017. As per ISSF data, the global stainless steel production surged higher by 7.4% during Jan-Sep ‘17, in comparison with the corresponding nine months in 2016. Also, the stainless steel melt shop production during the third quarter of 2017 increased modestly by 10.2% over the previous quarter.

The global stainless steel production during the opening nine months of 2017 totaled 36.08 million metric tons, which stood higher by 7.4% when compared with the output of 33.585 million mt during the corresponding period in 2016. The stainless steel output during Q3 ’17 totaled 12.717 million metric tons, higher by 10.2% when matched with the output of 11.542 million metric tons recorded during the second quarter of the year.

The stainless steel production by the European region has increased marginally by 1.7% over the previous year. The region produced 5.544 million metric tons in Jan-Sep ’17 as against 5.453 million metric tons during the comparable period last year. Meantime, quarterly output recorded sharp decline from 1.902 million metric tons to 1.662 million metric tons.

The American stainless steel output recorded biggest jump during the first nine-month period in 2017. The output totaled 2.100 million metric tons, higher by 14.8% from 1.830 million metric tons output during Jan-Sep ’16. However, the quarterly output by the country witnessed slight decline from 699,000 metric tons in Q2 to 680,000 tons in Q3 this year.

The Chinese stainless steel production recorded strong growth during the opening three quarters of 2017. The output totaled 19.669 million metric tons, surging higher by 8.8% from the total output of 18.086 million metric tons during January to September in 2016. The production during Q3 this year too was up by nearly 18% quarter-on-quarter to 7.256 million metric tons from 6.127 million metric tons.

The production by Asian region excluding China and South Korea jumped higher by 4.2% from 5.686 million mt in Jan-Sep last year to 5.928 million mt. The quarterly production increased marginally in Q3 this year, upon comparison with Q2 2017. The production by the Asian region totaled 1.978 million mt during the third quarter of 2017.

The rest of the world comprising of Brazil, Russia, South Africa, South Korea and Indonesia accounted for approximately 8% of global production. Year-on-year, the production was up by 12.4%. The quarterly output totaled 1.140 million mt in Q3 ’17, whereas the combined output during the initial three quarters totaled 2.842 million mt, noted ISSF.

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