Stainless steel still set for record output
A
MEPS (International) product story
Edited by the Engineeringtalk editorial team
Nov 1, 2004
Stainless steel production will reach another peak value in 2004, according to the latest MEPS Stainless Steel Review.
Stainless steel production will reach another peak value in 2004.
MEPS estimates Western world steel making at 21.25 million tonnes.
With revised figures for Chinese supply, this equates to global melting at 23.65 million tonnes.
EU output in the first half of this year was up on the equivalent period in 2003.
MEPS expects this situation to continue into the second period - leaving the total figure for 2004 at just above 8.6 million tonnes.
This represents a 2.3% increase on the previous 12 months.
Demand in Japan is steady but not exciting.
Production is restricted due to the combination of limited raw material supply, high costs of alloys and consolidation within the industry.
MEPS forecasts a slight fall in output this year.
US consumption is fair.
Stainless crude steel making is slightly up this year and should remain that way for the full 12 month period - showing a gain of 1.5%.
A degree of oversupply is being noted in Asia.
This is partly the result of increasing supply from the three major producing countries in the region.
The full benefit of the POSCO investment in stainless capacity is now shining through.
MEPS envisages production in 2004 climbing to almost 2.2 million tonnes.
This equates to a rise of almost 20% on the 2003 outturn.
The Taiwanese market is slow.
Nevertheless, we expect output to be slightly higher this year.
Modest improvements are also expected from Brazil, South Africa and India in the "others".
Production figures in China have been the subject of debate in recent years.
MEPS has erred on the side of caution when discussing them.
World Bureau of Metal Statistics are reporting the higher figures in the latest report for 2003.
Consequently, MEPS is incorporating these values into its estimates for global steel manufacturing.
Further growth in output is inevitable in China in the medium term.
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