Global stainless steel production grew by 8.9 percent in the first 9 months of 2014

The International Stainless Steel Forum (ISSF) has released stainless steel production figures for the first nine months of 2014. The data show that global stainless steel production increased 8.9 percent year on year to 30.9 million tonnes.

Moreover, production increased in all regions with the exception of Central and Eastern Europe, where the fall was 1 percent, and the total volume for 9 months decreased to 213 million tons. Western Europe increased the output of stainless products for the reporting period by 4.8 percent to 5958 million tons, which is associated with an increase in demand for stainless steel in consumer goods and agriculture, in the production of cars and medical equipment, as well as construction.

Stainless steel production in Asia outside of China totaled 6,611 million tonnes, up 1.9 percent over the period. China is the undisputed leader in the industry and produced 16,022 million tonnes in 9 months of 2014, an increase of 13 percent over the same period in 2013. The Asian region is distinguished by a high level of imports to European countries, which have recently introduced higher anti-dumping duties on imported products from Asian countries, especially from China and Taiwan.

North and South America during 9 months distinguished themselves with the largest increase in stainless steel production up to 15 percent and reached an output of 2,097 million tons, this is due to the high level of consumption in the domestic market.