Global stainless steel demand is set to reach 38.0 million mt this year and 39.2 million mt in and 2017, with global consumption expected to increase at an annual average growth rate of around 3% from 2016 through 2019, Finnish stainless producer Outokumpu said Wednesday in its 2015 annual report.
Global real demand for stainless steel products reached 37.7 million mt in 2015, with a modest increase of around 2% from 37.1 million mt in 2014, after annual average growth of around 8% in 2011?2014, Outokumpu said, citing figures from German consultancy SMR.
"The deceleration of growth was most pronounced in the APAC and Americas regions, where the growth slowed markedly below the average rates of previous years," Outokumpu said.
"Slowing economies in emerging markets, notably China, broad-based weakness in global manufacturing and deteriorating nickel prices resulted in weaker demand growth in 2015 compared with previous years," it added.
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