Global stainless crude steel production hits new high in 2019

 In 2018, the total global production of stainless crude steel exceeded 50.7 million tons, which made a historical high, up by 5.5% compared with the same period of last year. 

British steel consultant MEPS estimated global stainless steel capacity will increase by 4% in 2019 to 52.7 million tons.

The impact from Section 232 and quotas policy are going weakly since last year. Come along with much more competitive imported steels from oversea to the US steel market, the US domestic market demand slowed down. Therefore, US stainless steel production increased by 2% slightly in 2018, and MEPS estimated the increase will be still around 2% for this year.

Last year, the EU set up safeguard measures in order to prevent flooding steels into the European market due to Section 232. 

The consumption in European region remained the same; therefore, the total amount of stainless crude steel in 2018 had few changes compared to 2017, and MEPS estimated the situation will be the same in 2019.