According to the latest figures from the International Stainless Steel Forum (ISSF) (www.worldstainless.org), the world’s production of stainless steel reached 11.76 million tonnes in the first quarter of this year, an increase of 14.5% compared with the same period of last year.

MEPS (International) Ltd, the independent steel industry analyst, says it expects global stainless-steel production to reach 48.5 million tonnes in 2017, an increase of 6% compared with last year.

China’s production of stainless steel is expected to increase by 8% to 27 million tonnes this year, accounting for about 55% of global total output.