Strong growth in stainless steel

Merafe Resources’ medium to long term growth forecast for stainless steel output is strong, with production projected to reach record levels for 2010. Global stainless steel production increased more than 40% for the first half of 2010 due to strong restocking. Merafe, a South African producer of ferrochrome, expects a recovery in the metal to carry on through to 2013 due to continued global economic growth. Global ferrochrome output has been unable to keep up with the increase in demand as companies’ current stockpiles are too low to meet requirements. Alloy Metals and Steel Market Research show that India and China are responsible for the jump in ferrochrome demand due to their growing steel industry.

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