World stainless steel production totaled 41.7 million tonnes in 2014 - ISSF

According to the latest statistics released by the International Stainless Steel Forum (ISSF), global stainless steel production grew 8.3 percent during 2014 compared to 2013.

Total output was 41.70 million tonnes in 2014, up 3.180 million tonnes from 38.506 million tonnes in the previous year. The lowest production of 10.173 million tons was recorded in the 3rd quarter. Total production during the 1st and 2nd quarters amounted to 10.359 million tons and 10.174 tons, respectively. Stainless steel output in the 4th quarter was 10.259 million tonnes.

Production in Western Europe increased by 1 percent to 7.570 million tonnes during 2014 compared to 7.496 million tonnes during 2013. Production in Eastern Europe and Central Region continued to fall during 2014 and fell by 6.3 percent in 2014, after declining by 17.7 percent in 2013. During 2014, the region produced 277 thousand tons of stainless steel.

Stainless steel output in the Americas increased 14.6 percent during 2014 to 2.813 million tonnes. China increased production by 14.3 percent in 2014 to 21.692 million tons. Output in the Asia region, excluding China, rose marginally by 0.6 percent.

In Q4 2014, compared to Q3 of the same year, only America and China increased their stainless steel production. However, production fell in Europe in the 4th quarter of this year, compared to the previous quarter. The output of the Asia region, excluding China, reported a slight decline in the 4th quarter.