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STAINLESS STEEL: WHAT DOES THE FUTURE HOLD FOR US?

Casted stainless steel manufacturing increased by 56,1% in the last decade, going from 28,7 million tonnes in 2006 to 44,8 millions in 2016 (estimate).

In 2006, Europe boasted its undisputed leader position with approximately a 10,0 million tonne production: 34% of the world’s capacity was being produced in Europe.

International Stainless Steel Forum

Unfortunately, over the course of this decade, the overall situation underwent a sudden change.

In 2016, Europe went to -23% compared to 2006. USA and Asian manufacturing (excluded China) remained substantially unvaried (approximately 2,900 million tonnes the former, and around 9,8 million tonnes the latter).

China, on the other hand, certainly played an important role. Considering its rough 5,3 million tonne production in 2006, which raised to approximately to 24,1 million tonnes in 2016 (+355%) with a documented 54% world manufacturing (against Europe’s 17%), the country’s exponential growth is crystal clear.

2015, especially, was a tough year for stainless steel manufacturing all over the world.

As observed in the recent World Steel in Figures 2016, spread by the World Steel Association, China’s growth was so exponential that the remaining steel markets had to adapt to lower levels.

However, it should be said that towards the end of 2016 the Chinese market (together with Japan, USA, Russia, South Korea, Germany and Brazil) underwent a slight slowdown, while India, Turkey, Ukraine and Italy (in clear contrast with the rest of Europe) saw comforting increment data.

Will this trend continue in 2017 too? The first estimates are positive, especially as far as our country is concerned.

What do you think?

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