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PrintALBANY (Scrap Monster): According to latest statistics published by the International Stainless Steel Forum (ISSF), the global stainless steel production increased considerably by 14.5% during the initial three months of 2017, in comparison with the corresponding quarter in 2016. However, the stainless steel melt shop production during the first quarter of the year registered 3.5% decline over the previous quarter.
The total stainless steel output during the first three months of 2017 totaled 11.763 million metric tons, higher by 14.5% when compared with the output of 10.274 million mt during Jan-Mar ‘16. When compared with the production during the quarter before, the stainless steel output during Q1 2016 has declined by 3.5%. The global stainless steel output during Q4 2016 had totaled 12.193 million mt.
The European stainless steel production was up by 6.1% over the previous year from 1.866 million mt in Q1 last year to 1.980 million mt in the first three months of 2017. Quarter-on-quarter, the production by the region reported 8.4% jump. The European stainless steel output had totaled 1.826 million mt in Q4 2016.
The USA reported biggest jump in stainless steel output during Q1 this year. The output totaled 721,000 metric tons, surging higher by 36.2% when compared with the significantly lower output of 530,000 mt during the corresponding quarter last year. The output jumped higher by nearly 11% from 651,000 mt recorded during the last quarter of 2016.
China too recorded strong growth in stainless steel production during the period under consideration. The Q1 2017 output grew by 19.4% year-on-year to 6.225 million mt. The Chinese output accounted for nearly 53% of the global production during the quarter. The country’s production had totaled only 5.214 million mt in Quarter 1 of 2016. On the other hand, production registered quarterly decline of 9.2%. The Chinese production had totaled 6.852 million mt in Q4 2016.
The production by Asian region excluding China and South Korea jumped higher by 6.5% from 1.871 million mt in Q1 last year to 1.992 million mt in Q1 2017. The quarter-on-quarter production witnessed marginal drop from 1.995 million mt.
The rest of the world comprising of Brazil, Russia, South Africa and South Korea accounted for just over 7% of global production. The production reported 6.4% year-on-year jump. When matched with the prior quarter, the 845,000 mt production during Q1 2017 was down by 2.8%, ISSF noted.
- [Editor:Wang Linyan]
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