MEPS Ltd forecasts global stainless crude steel output in 2005 at 25.3 million tonnes – up from 24.4 million tonnes a year earlier. This equates to an increase of 3.7%. Western World stainless steel manufacturing is likely to reach 22.4 million tonnes this year – 3% above the 2004 outturn. Japanese supply appears to have stabilised at around 4 million tonnes per annum after rationalisation in the industry of late. South Korea production levels should settle at around 2.5 million tonnes per year into the near term. Brazilian, Indian and South African supply should all improve – resulting in total output of 2.85 million tonnes this year. Chinese stainless melted production is forecast to expand by 300,000 tonnes in 2005 as recently installed capacity is brought up to full potential and new plants are started up.
