Global stainless steel output rises by 5.8 percent in 2017

Global production of stainless steel rose by 5.8 percent last year, with the biggest year-on-year gains seen outside Asia and Europe, according to the International Stainless Steel Forum.

Production hit 48.1 million tonnes last year, with 11 percent gains in the United States, which accounts for nearly 6 percent of global output, ISSF data showed.

China, the world`s largest stainless steel producer, continued to account for a little more than half of global production, though it raised output by only 4.7 percent last year.

Stainless steel prices in east Asian ports fell 5 percent last year, in marked contrast to Chinese steel rebar prices, which surged by nearly 50 percent.

(This article has not been edited by Zeebiz editorial team and is auto-generated from an agency feed.)