SEATTLE (Scrap Monster): The global stainless steel production statistics published by the International Stainless Steel Forum (ISSF) suggests 5.5% surge in production during the entire year 2018. The full-year totaled 50.729 million metric tons (Mt), as compared with 48.081 Mt in 2017.

All regions reported increased production over the previous year. The European stainless steel output recorded marginal increase by 0.1% from 7.377 Mt in 2017 to 7.385 Mt in 2018. The output by the U.S. too was up marginally by 2.0% to total 2.808 Mt. The U.S. output had totaled only 2.754 Mt in 2017. The Chinese production surged higher by 3.6% over the prior year to total 26.706 Mt, accounting for almost 53% of the world stainless steel production. The country had produced only 25.774 Mt in 2017.

The Asian region excluding China and South Korea witnessed 2.1% year-on-year jump in production. The region’s production was up from 8.030 Mt in 2017 to 8.195 Mt in 2018. Meantime, the combined output by Brazil, South Africa, Russia, South Korea and Indonesia skyrocketed by 35.9%. The production surged from 4.146 Mt to 5.635 Mt over the year, ISSF data said.

The stainless steel output during the last quarter of the previous year totaled 11.827 Mt, dropping significantly by nearly 10% from the output of 13.132 Mt in Q3 ’18. The quarterly output recorded decline when matched with the corresponding quarter a year before. The Q4 ’17 stainless steel output had totaled 12.545 Mt.