Outokumpu Announces Improvement in Stainless Steel Demand in Q1 2015

Global stainless steel demand has shown signs of improvement this year from the lows recorded at the end of 2014, according to a report released by global stainless steel producer Outokumpu. However, the outlook for Q1 2015 may vary by region.

According to Outokumpu, consumption in Europe, the Middle East and the African region is showing an improvement in basic demand. The Asian market continues to be weak during the first months of this year. The state of the American market looks promising, although new orders remain subdued at the moment, due to the uncertainty of nickel prices.

Global demand for stainless steel rose 5.5 percent during 2014, while consumption in the Americas and Europe grew 4.7 percent and 3.8 percent, respectively. Of the total consumption throughout the year, the share of the company's stainless steel imports to the EU accounted for 30.6 percent, while the NAFTA region accounted for 18.9 percent.

The technical break-up of Calvert's US mill, along with a strategic partnership with a Mexican cold rolling mill, helped the company gain market share last year. The company's share of the NAFTA market has increased from 20 percent to 22 percent over the past year. Meanwhile, the company's global steel supplies throughout 2014 decreased slightly from 2,585 thousand tons in 2013 to 2,554 thousand tons in 2014.

Outokumpu is a group of companies headquartered in Espoo, Finland and specializes in stainless steel and high alloy production with over 12,000 employees in over 30 countries.