World stainless steel production 2009 - 2010

MEPS today report that global crude stainless steel production for 2009 turned out at 24.6 million tonnes, a fall of 5 percent compared with 2008.

MEPS also observe that total stainless steel output for the first quarter of 2010 will be around 7.5 million tonnes . This figure is a remarkable 54.6 percent higher than the outturn for the first three months 2009, which marked the low point of the recent downturn.

With corrections for stock levels, MEPS forecast for global stainless steel output in calendar year 2010 is ~28.5 million tonnes, which would exceed the previous record outturn, in 2006, by 0.3 million tonnes.

For further info, see MEPS' stainless report.

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Steel prices at bottom of cycle ?

Flat product prices appear to be at or close to the bottom of the cycle. This is the latest view from Sheffield-based steel consultants MEPS. Recent price forecasts appear to have changed very little since April 2009. Whilst there is still some negative pressure on transaction values due to subdued demand and bloated inventories - and transaction values may slip a little further in June 2009 - steel prices should stabilise during the third quarter of 2009. Steel product prices are then forecast to start rising in the final quarter of this year, with further advances predicted early in 2010 as the world economic climate improves.

To read the full MEPS price report, visit http://www.worldsteelprices.com/news4.htm.

blogger@steelonthenet.com

Steel prices climbing higher still

MEPS today suggest that despite steel prices being at an all time high, finished product prices can be expected to go higher still in September. This is despite current prices for hot rolled coil being ~$500-$600 per tonne higher than they were 12 months ago.

For full report, visit http://www.meps.co.uk/viewpoint8-08.htm.

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Crude steel production 2007

According to the International Iron and Steel Institute, the top steel producing countries in 2007 were China (489 mt crude steel), Japan (120.2 mt), and the USA (97.2 mt).  World crude steel production reached 1,343.5 million metric tonnes, up 7.5% on 2007 with Chinese production growing almost 16% from 433 mt.

For full 2007 world steel production report, see http://www.worldsteel.org/?action=newsdetail&id=228

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2007 and 2008 world steel demand forecast

In their 'Short Term Outlook' published today, the International Iron and Steel Institute (IISI) predict that year 2007 world steel demand will be just short of 1.2 billion metric tonnes. Steel consumption in 2008 is expected to grow by 6.8%. This means that 2007 consumption of ~1198 mt will increase to ~1279 mt in 2008.

Brazil, Russia, India and China lead the growth in steel demand, accounting for ~77% of world demand growth in 2007 and ~71% of the expected growth in 2008.

For full IISI report, see http://www.worldsteel.org/index.php?action=newsdetail&id=213

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