According to the World Stainless Association, global stainless steel production reached 15.55 million tons in the first quarter of this year, falling by 6.2% compared to the preceding quarter but increasing by 6.2% from the same period a year ago.
Europe had a 15.9% quarter-on-quarter and 2.9% year-on-year growth, producing 1.61 million tons. The US also increased output by 25.4% quarter on quarter and by 8.6% year on year, totaling 533,000 tons.
In Asia, excluding China and South Korea, production fell by 7.7% quarter on quarter and by 3.3% year on year to 1.78 million tons. China produced 9.6 million tons, down by 10.4% from the prior quarter but up by 11.2% year on year.
Other countries, including Brazil, South Africa, Indonesia, and South Korea, experienced a 3% quarter-on-quarter decline and a 4.5% year-on-year drop, totaling 1.98 million tons.
