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Stainless Steel Production Increases for First Half of 2010
09/21/2010 - Stainless steel crude steel production has increased in the first half of 2010 by 44.3% compared to the same period of 2009, according to preliminary figures released by the International Stainless Steel Forum. Total production for the first six months of 2010 was 15.6 million tonnes.
Stainless steel crude steel production has increased in the first half of 2010 by 44.3% compared to the same period of 2009, according to preliminary figures released by the International Stainless Steel Forum (ISSF). Total production for the first six months of 2010 was 15.6 million tonnes.
All major regions showed significantly higher production volumes in the first half year, but China reported a lower-than-average production increase.
This stainless steel production growth, says ISSF, reflects several facts:
- A clear statistical basics effect after the dramatically decreased production in the first half of 2009 due to the economic crisis
- A much stronger and quicker than anticipated recovery of the global economy
- A strong re-stocking business, partially combined with speculative buying
- A re-filling of the mill-internal supply chain.
In Asia with China excluded, stainless steel production increased by 46% to 4.3 million tonnes. All stainless steel-producing countries significantly increased production in the first half of 2010, with growth rates ranging between 20 and 80%. China increased stainless steel production by 35% to 5.5 million tonnes.
Western Europe/Africa reported a 49% increase in stainless steel production during the first six months of 2010. Total production was 4.3 million tonnes.
In The Americas region, stainless crude steel production grew by 68% to 1.4 million tons in the first half of the year. Production in the Eastern Europe region showed an increase of 63%, with less than 0.2 million tonnes continuously on an almost negligible low volume level.
All regions (except the Americas) showed further increased melting volumes in Q2 compared to the previous quarter. Asia and China increased their production quarter-on-quarter by 2% and 10%, respectively. EuroAfrica reported a 7% increase in the same time. The Americas reduced production by 8% quarter-on-quarter. The globally achieved volume of 8 million tonnes is an all-time-high production level, according to ISSF.
The split by main stainless steel grades has seen a recovered market share of ferritic steels, reflecting the strong production recovery in the global automotive industry. The market share of austenitic CrNi stainless steels has slightly decreased with the average of 2009 (58.3% vs. 60.6% last year) due to the stronger development of the ferritics. The market share of chrome-manganese steels has increased somewhat due to the better domestic market demand in China.
The International Stainless Steel Forum (ISSF) is a nonprofit research organization that serves as the world forum on various aspects of the international stainless steel industry. Founded in 1996, ISSF is based in Brussels, Belgium.
