Stainless steel statistics for June
The London based International Steel Statistics Bureau (ISSB) gather data on steel production and market development from around the world. We have listed below some key point from their latest report on the stainless steel market.
• Global crude steel production reached a new record in 2010 of 1.4 billion tonnes, 5% above the last peak in 2007 and 15% above the 2009 level. Global crude steel production to May 2011up a further 7.3% to new record levels.
• Within this global crude stainless production reached 30.7mt in 2010, 25% higher than
• 2009 and 8% higher than the previous peak in 2006. Quarter 1 2011 saw global production of 8.4mt, a new record, and 9% up on Q1 2010. China’s production reached 3.1 mt to have risen 18% since Q1 last year.
• EU27 crude stainless production increased 25% in 2010 to 92% of the pre-recession 2007 level. Q1 2011 saw EU production 7% higher than in Q1 2010, despite the largest producing nations, Italy, Germany and Belgium posting below average increases. March saw the highest monthly output since May 2008.
• China’s stainless production rose by 28% in 2010 to over 150% of 2007 levels, production in the rest of Asia rose 21% in 2010 to 96% of pre-recession 2007 levels.
• EU stainless steel market supply in 2010 increased by 25% for flat products and by 34% for long products but with both remaining 20% below their 2006 peaks. 2010 import share of 17% for flat products and 10% for long products compares to 12%and 5% respectively in 2006.
• 2011 Q1 saw EU flat product market supply up 12% on 2010 Q1 with import share steady. Long products saw Q1 2011 market supply of 343 Kt fully 38% up on Q1 2010 with EU mill deliveries 32% higher and imports 90% higher to take a 13% share of the market.
• Global trade in stainless is also recovering. 2010 with 15.4 mt shipped equating to 21% growth on 2009 while 15% short of the 2006 peak. Q1 2011 saw 4.4 mt exported, the highest quarterly level since Q2 2008.
• China trade balance in 2010 shifted by 985 kt from net importer to net exporter of stainless steel. Underlining this trend Q1 2011 saw China’s exports 93% higher with imports 17% lower than in the same period last year & fitting in with its rapidly increasing production levels.
• Although global demand has recovered, albeit with growth dominated by Asian producers, base prices continue to struggle with July levels 40% below the peak experienced early in 2007. Alloy surcharges are more volatile but with recent softening remain at 50% of their peak