Global Stainless Production Seen As Recovering
The International Stainless Steel Forum (ISSF) expects that stainless steel crude steel production in 2008 will recover after the decrease in production during 2007. Based on massive and never seen before stock draws after the crash of nickel prices in May 2007, global stainless crude steel production decreased by 2.6% for the full year 2007.
ISSF’s latest forecast, issued during ISSF’s Annual Conference in Paris, France, anticipates that global stainless crude steel production will grow 6.0% to 29 million metric tons in 2008. ISSF believes demand will be driven by a natural increase in industrial production.