Stainless Steel Me

The International Stainless Steel Forum (ISSF) has released preliminary stainless steel production figures which show that 4.8 million metric tons (mmt) of stainless was produced worldwide in the first quarter of 2009.

Production in China and the Americas increased in this quarter when compared to the already depressed fourth quarter of 2008. The relatively good performance of the Chinese stainless industry may be partly explained by the government’s economic stimulus package which seems to have created some additional demand for stainless in the country. The increase in the Americas region is on a very small volume of just 411,000 metric tons. All other regions showed decreases in production.

Compared to the first quarter of 2008, global stainless steel production was down more than a third in the first three months of 2009. Most stainless steel producing areas showed losses of over 40%. The exception is China, where production fell by just 10.3%. Again, the Chinese government’s stimulus package may be a factor. All areas of the world are showing extraordinary stock reductions and low levels of demand in stainless steel-using industries due to the global economic slowdown.

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