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Stainless Steel July 11, 2018 12:30:31 PM

ISSF Q1 Stainless Steel Production Statistics Published

Paul Ploumis
ScrapMonster Author
The production by the Asian region excluding China and South Korea totaled 2.072 million metric tons in first three months of 2018.
ISSF Q1 Stainless Steel Production Statistics Published

SEATTLE (Scrap Monster): The production statistics released by the International Stainless Steel Forum (ISSF) suggests considerable jump in global production of the metal during the initial three months of 2018. The stainless steel output has surged higher by 9.5% year-on-year during the first quarterly period this year. Over the prior quarter, the production has climbed higher marginally by 1.8%.

The stainless steel melt shop production in Q1 2018 totaled 12.767 million metric tons. This is significantly higher by 9.5% when matched with the production of 11.664 million metric tons during the corresponding quarter a year before. Over the prior quarter, the production witnessed marginal jump by 1.8%. The global stainless steel output had totaled 12.545 million metric tons during Q4 2017.

Over the previous quarter, the U.S. and Europe recorded significant jump in stainless steel production. The European output surged higher by 10% from 1.830 million metric tons in Q4 ’17 to total 2.014 million metric tons in Q1 this year. Over the previous year, the European production stood marginally higher by1.7%. The U.S. production was up by 9.8% from 654,000 tons in Q4 ’17 to 718,000 tons in Q1 ’18. Over the previous year, the output registered marginal decline by 0.4%.

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The 6.5% year-on-year jump in output by China was the key driver behind the production increase over the previous year. The Chinese production totaled 6.524 million metric tons in Q1 this year, accounting for more than 51% of the global output. The Chinese production had totaled only 6.125 million metric tons in the corresponding quarter last year. When compared with the prior quarter, the Chinese production dropped by 1.9%.

The production by the Asian region excluding China and South Korea totaled 2.072 million metric tons in first three months of 2018. The production reported 4% jump over the previous year and 1.6% decline over the prior quarter.