Global stainless-steel output up by 4.4%
A
MEPS (International) product story
Edited by the Engineeringtalk editorial team
Dec 29, 2003
The December 2003 edition of Stainless Steel Review estimates global stainless-steel output in 2003 at 20.2 million tonnes up 4.4% on the year earlier figure.
The December 2003 edition of Stainless Steel Review estimates global stainless-steel output in 2003 at 20.2 million tonnes up 4.4% on the year earlier figure.
The review forecasts further expansion in 2004 to around 21 million tonnes.
Western World production is expected to rise from 18.7 million tonnes in 2002 to 19.5 million tonnes this year and to over 20 million tonnes in the following 12 months.
Demand in the European Union has been rather sluggish since January.
In contrast, export sales have improved.
This has enabled the steel makers to increase output by an estimated 3.5% in 2003.
Over the next 12 months domestic consumption should be better but foreign supplies may drop a little.
Japanese production is expected to end this year at a figure 3.4% higher than in 2002.
All the improvement has been the result of a rise in export volumes - mainly to China.
Home consumption should expand marginally in 2004 and sales to the Asian markets should hold up quite well.
In contrast, the situation in the USA is dire.
Domestic demand is flat.
Exports are almost impossible to secure.
Output this year is likely to be down 2.5%.
Further cuts are possible if the threatened closure of melting at the J and L plant takes place.
Posco's new steel-making unit is near full production.
Korean output this year will expand by approximately 18%.
Further growth is forecast in 2004 when the full effect of the new capacity is felt.
Most of the extra supply will be sent to China as hot rolled coil.
Foreign sales (particularly to China) have propped up stainless steel making in Taiwan.
Output this year will be 2.5% higher than in 2002, despite local demand being slow.
The review also predicts a modest rise in production for the "others" classification of the Western World in 2003.
Furthermore, an upturn is also expected in output from the former command economies of China and Russia.
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