Rise seen in Stainless steel output:
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World crude stainless steel production in 2007 is forecast to be 28.5 million tones, a rise of 1.6 percent in year –on-year, according to a report issued Monday by steel industry consultant MEPS (International) Ltd. High prices in recent month prompted overbuying by customers through 2006 and the early months of this year, MEPS said. As result an inventory depletion phase is predicted for the next three quarters. A 5 percent decrease in output is anticipated in the US this year amid slowing demand and still high import volumes. Production gains are predicted in the others grouping mainly from India and Brazil, MEPS noted.
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Source : Business Line |
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