Global stainless steel output recorded 6% growth in 2017

The International Stainless Steel Forum (ISSF) has released its 2017 annual production statistics. All regions of the world recorded an increase in production throughout the year. World production of stainless steel during the year increased by 5.8% and amounted to 48.1 million tons. In 2016, production was only 45.4 million tons.

European stainless steel production increased marginally by 1.3% year-on-year from 7.280 million tonnes in 2016 to 7.377 million tonnes in 2017. The US reported a significant jump in production throughout the year. Production was 2.754 million tonnes, 11% more than in 2016, compared to a production of just 2.481 million tonnes. Chinese production rose 4.7% year-on-year from 24.608 million tons to 25.774 million tons.

The Asian region excluding China and South Korea recorded a sharp rise in production by 4.5%. Production in these countries in 2017 amounted to 8.030 million tonnes. Other countries, including Brazil, Russia, South Africa, South Korea and Indonesia, reported a 22 percent jump in production. Combined production in these countries was 4.146 million tonnes throughout 2017, up from 3.399 million tonnes last year, according to ISSF data.

Quarterly worldwide stainless steel production was 12.545 million tonnes, up slightly from 12.536 million tonnes in Q3 2007. Q4 2017 output ended with a modest jump from 12.158 million metric tons in the corresponding quarter of 2016. Europe, the United States and Asia excluding China and South Korea on the marginal production leap, while production in China declined compared to the corresponding quarter in 2016.