Stainless steel to add a further year of growth despite global situation

摘要

Stainless Steel is about to add a further year of growth to its long-lasting story of success, and this despite the week global economic situation. According to the forecast of the International Stainless Steel forum (ISSF), published at the 7th annual meeting and conference in Berlin last month. It is expected that stainless steel production in slab/ingot) terms will pick up during the autumn to grow by some 4 percent in 2003, after a recovery by nearly 6 percent in 2003 compared to 2001. This growth rate was slightly lower than was forecast at the end of 2002, partly due to the weaker-than-expected economic recovery. The economic improvement, originally expected in the Spring of 2003 will not occur until late in the year due to a lack of consumer confidence in the strongest economic regions of the world and the campaign in Iraq during the first quarter of the year. It must be stated that the Iraq war had no major impact on the stainless steel markets.