In total, in the first half of this year, the world stainless steel melting volume reached 29.06 million tons, which is 24.6% more than in the same period of 2020. In addition, this year production increased by 11.1% compared to the first half. It is on the decline compared to December 2019.
China, the world's leading stainless steel producer, decreased production by 1.9% in the second quarter compared to the first, to 8,045 million tons, but the increase exceeded 7.9% compared to the same period last year. In just six months, Chinese companies produced 16,243 million tons of stainless steel, 20.8% more than the previous year.
Indonesia's stainless steel production continues to grow. In the second quarter of 2021, countries included in the “other” group (with the exception of Indonesia, ISSF, which includes Korea, Brazil, Russia and South Africa), produced 2.052 million tons, an increase of 57.1% compared to last year. According to the results of the first half of the year, 3.953 million tons of stainless steel were melted in countries in this group, which is 53.7% more than in the same period of 2020.
In other regions, growth rates are much lower. Thus, stainless steel production in Europe reached 1.919 million tons in the second quarter of the year and 3.828 million tons in the first half of the year. This is 40.1% and 20.3% more respectively than a year ago, but at the end of six months Europeans only surpassed the benchmark for the first half of 2019 by 2.3%.
American companies have never been able to return to pre-crisis levels. In the first half of 2021, they produced 1,278 million tons of stainless steel (654 thousand tons - in the second quarter), which is 5.3% less than in January-June 2019. India, Japan and Taiwan melted together in the second quarter, 1.845 million tons of stainless steel and in the first half of the year - 3.725 million tons. This is 4.8% and 4.5% less, respectively, compared to the same periods in 2019.
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