The global stainless steel production during the opening six months of 2017 totaled 23.2 million metric tons, edging higher by 5.0% when compared with the output of 22.102 million mt during the first half-yearly period of 2016.
SEATTLE (Scrap Monster): The International Stainless Steel Forum (ISSF) has released the production statistics for the first half of 2017. As per ISSF data, the global stainless steel production registered 5% jump during the first half-yearly period of the year, upon comparison with the corresponding initial six-month period in 2016. However, the stainless steel melt shop production during the second quarter of 2017 declined marginally by 2.4% over the first quarter of the year.
The global stainless steel production during the opening six months of 2017 totaled 23.2 million metric tons, edging higher by 5.0% when compared with the output of 22.102 million mt during the first half-yearly period of 2016. The stainless steel output during the second quarter of the year totaled 11.462 million metric tons, marginally lower by 2.4% when matched with the output of 11.748 million metric tons recorded during Q1 ’17.
The European stainless steel production surged higher by 2.3% over the previous year from 3.793 million mt in H1 last year to 3.882 million mt in the first six months of 2017. Quarter-on-quarter, the production by the region has declined by nearly 4% from 1.980 million mt in Q1 ’17 to 1.902 million mt during the second quarter of the year.
The USA reported biggest jump in stainless steel output during the first half of 2017. The output totaled 1.420 million mt, significantly higher by 24.3% when compared with the output of 1.143 million mt during the corresponding six-month period last year. However, the Q2 output declined over the previous quarter to total 699,000 metric tons.
China too recorded strong growth in stainless steel production during the initial half of the current year. The H1 2017 output grew by 4.2% year-on-year to 12.256 million mt. The Chinese output accounted for nearly 53% of the global production during the half-yearly period. The country’s production had totaled only 11.765 million mt in H1 of 2016. On the other hand, quarterly production registered 2.6% decline from 6.209 million mt in Q1 this year to 6.047 million mt in second quarter of the year.
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 first half of 2016, the 1.702 million mt production during H1 2017 was up by 3.3%, ISSF noted.