MEPS forecasts that world crude stainless steel output will reach an all-time high of 47.5 million tons in calendar year 2017. This would represent a 3.8 percent increase on the previous record figure, set last year. MEPS expects continued growth in global production in 2018. A new peak volume of 49 million tons is forecast for next year.
Output in the United States, during the second quarter, was higher than MEPS previous estimate. As a result, MEPS has upgraded its forecast for the 2017 annual total, to 2.75 million tons. This would equate to a year-on-year increase of more than 10 percent. MEPS anticipates moderate growth, of around 100,000 tons, next year.