Worldwide stainless steel meltshop production totalled 45.71 million tonnes in 2016, up from the 42.21 million tonnes produced in 2015, Macquarie said.
The rise was attributed to an increase in output in China – the world’s largest stainless steel-producing country – where production rose by 12.76% year-on-year to 24.73 million tonnes, up from 21.93 million tonnes in 2015.
Stainless steel exports from China grew by estimated 19.36% year-on-year to 3.78 million tonnes.
“Virtually all of the...
