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Global Stainless Production Reaches New Record in 2011
03/22/2012 - World crude steel production grew by 3.3% in 2011, reaching a total of 32.1 million tonnes according to the latest report from the International Stainless Steel Forum (ISSF). The 2011 total represents a new stainless steel production record for a single year.
World crude steel production grew by 3.3% in 2011, reaching a total of 32.1 million tonnes according to the latest report from the International Stainless Steel Forum (ISSF). The 2011 total represents a new stainless steel production record for a single year.
According to the report, although some destocking was noted during the third quarter of 2011, this was partially compensated during the final three months of the year. The increase in 2011 production comes on top of a 25% increase in 2010, which followed the economic crisis of 2008/2009. The industry’s recovery appears to indicate that stainless steel still has enormous potential for growth.
Despite the strong overall growth, not all stainless-producing regions developed at the same pace in 2011. Excluding China, production in the Asiaregion declined by 2.7% to 8.8 million tonnes during 2011, while in Taiwan, China production declined by 20.6%. Production in Japan totaled 3.2 million tonnes, a decrease of 5.3%, while increases were reported in both Korea (+5.3%) and India (+7.0%).
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Stainless crude steel production (in ‘000 tonnes)
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Region
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Y-o- Y
+/- % |
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2010
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2011
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Western Europe/Africa
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7,878
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7,875
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0.0
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Central and Eastern Europe
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340
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387
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14.1
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The Americas
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2,609
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2,486
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-4.7
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Asia (excluding China)
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9,011
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8,770
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-2.7
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China
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11,256
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12,592
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11.9
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World total
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31,094
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32,110
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3.3
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Source: International Stainless Steel Forum
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China continued to be the driving force in stainless steel production for 2011 with year-on-year increase of 11.9%. The country produced 12.6 million tonnes of stainless during the year. Including China, Asian production now accounts for 66.5% of all the stainless steel produced in the world.
Stainless steel production in the Western Europe/Africa region stagnated for the most part during 2011, with volume of just under 7.9 million tonnes. Countries in the region reported growth rates ranging from -5% to +18%. The Central and Eastern Europe region reported total production of 0.4 million tonnes, an increase of 14.1%, although the region’s volume is almost negligible within the global context. In the Americas, stainless production rose to 2.5 million tonnes, an increase of 4.7% compared to 2010.
Comparing production for each quarter to 2010 reveals a wide variation in regional growth rates over the course of 2011, reflecting growing concerns about general global economic development and the destocking that occurred during the year, according to ISSF. For example, in the first quarter of 2011 production grew by 8.7% as stainless steel stocks were replenished. While destocking took place in the second quarter (-0.8%), the last two quarters of 2011 were relatively stock neutral, although in some regions destocking did occur.
Over the past few years, the stainless steel market has seen major changes in the grades of stainless produced, with chromium-manganese grades becoming increasingly important over this period. More recently, production of chromium grades has also increased.
Data for the ISSF is based on reports from the group’s stainless steel producing members.
