Stainless production ramps up in US, Europe
June 20, 2021
International Stainless Steel Forum says the first 3 months of 2021 witnessed a global production of 14.5 million tonnes stainless steel. This also represents a 2.7% rise compared with the previous quarter.
The most dramatic year-on-year rebound has been in China, where nearly 37% more stainless steel was produced in the first quarter of this year compared to the corresponding period in 2020, when COVID-19-related lockdowns were in effect part of the time.
The previous quarter comparison, however, shows Europe as the big gainer, with output rising by 11% in the first quarter of 2021 compared with the final quarter of 2020. The United States, likewise, showed a 9.7% gain in output compared with the final quarter of 2020, when many states were still operating under workplace restrictions.
With Chinese companies setting up huge capacities, Indonesia is all set to overtake India as the second largest stainless steel producer in the world in the calendar year 2021, as per the latest melt shop projections presented in ISSF’s annual conference