The forecast for stainless steel in 2017 from MEPS International
Global analysts continue to make predictions for the next year. In London analytical Agency MEPS suggest that stainless steel production will gain momentum. According to the forecast in the UK, the development of stainless steel will break all records and will, at 43.3 million tons. If the forecast comes true, the figure of 4.2 percent exceeds the achievements of this year. In the MEPS claim that next year will be the peak for manufacturers of stainless steel. According to reports, if the pattern of production will remain the same in 2017 will produce 45 million tons of steel.
Although, in the countries with the largest manufacturers of stainless steel, this year’s total production to decline slightly.
But China continues to conquer the market of stainless steel. It is expected that the country will increase production by approximately 7 percent. Today, the share of Korea in the production of stainless steel is 53.2 percent. In comparison with last year, the productivity index increased by 5 percent.
In the countries of Euro Union, the demand for stainless steel has for several years weakens, and this trend will go in the next year. And here in the US, there is the possibility of weak demand growth. In South Korea and Japan are also expected slight increase in consumption.
As for the forecasts for the prices here, analysts are skeptical. In MEPS believe that the introduction of anti-dumping duties the United States and Europe, only a temporary tool. Because, some companies are trying not only to keep prices the beginning of the year, but also to raise them. This is indicated by the prices that were provided by manufacturers from USA and Europe. In MEPS are confident that in case of preservation of demand for stainless steel prices will remain at the same level. And only the actual decline in production capacity, can really affect the price reduction.
Now the world is experiencing a trend when consumers postpone the purchase of stainless steel in hopes of having a possible lower prices. Analysts say that in the situation of excess production and insufficient demand prospects for the fall of prices there.
The report says that the greatest demand for Nickel as the main element of steel production, will be held in may 2017.
The Agency also noted that next year the steel consumption is likely to remain at this year.