MEPS bring down China’s stainless steel production forecast

A few days ago, MEPS global stainless steel crude steel production in 2015 is expected to 42.2 million tons, up 1.2%; China’s 2015 annual output will reach 22.15 million tons, up 2.1% from a year earlier, mainly because stainless steel weak consumer demand at home and abroad, at the same time affected by the eu anti-dumping event. Notable is, the forecast growth is lower than in March.

Similarly, China stainless steel association recently data also shows that the output of a weak trend, in 2014, the year accumulative total year-on-year growth remains at 15%, growth in 2015 has nearly, according to incomplete statistics, the domestic stainless steel factory in August shutdown overhaul size will be around 300000 tons.

Asia as the world’s leading producer of stainless steel, MEPS also made a prediction for 2015 stainless steel production. Japanese market after a recovery in 2014, the output this year is expected to decline by 3% to 3.23 million tons, a record, according to Japan in 2014 stainless steel production rose 5% to 3.33 million tons.

Taiwan’s output in 1.17 million tons this year, although have a 5.2% increase over the previous year, but according to a record high in 2006, nearly 65% decline.

South Korea in the first half of the output slightly more than expected, which is expected annual growth of 2.8% to 2.08 million tons.

In addition, the United States in 2.4 million tons stainless steel output will be basic, expected this year increased by 0.4%.

Although the eu’s decline in exports, the far east, but in the first half of production or lower than previously expected, expected annual output 7.18 million tons, down nearly ten percent in 2014.