COMPANY PRODUCT INQUIRY INFORMATION COMMUNITY NEWS Welcome to Wanjoo Metals       HOME > CUSTOMER CENTER > NEWS TITLE  Global stainless steel production fell 2.9% in 2007 WRITER   administrator DATE   2008-04-08 11:54:29 Mumbai, Apr 7 Global stainless steel production fell 2.9% to 27.6 million metric tonne in 2007, with drops across most regions and countries except for China and the Asian region, according to figures released by the international stainless steel forum (ISSF). Stainless steel production increased in the first half of 2007 but then collapsed in the second half of the year after nickel prices dropped. \"The (production) collapse occurred as the aftermath of the burst in the nickel price bubble,\" ISSF said. Nickel prices rose 38% during the first half of the year to $36,195 metric tonne before dropping 8% during the second half to $33,325 per tonne. It said Asia was the only region in which stainless steel production rose by 6.3% compared to 2006 because of big production increases in China, although all other countries in the continent produced less. Asia saw stainless steel production rise 6.3% to 16 million tonne in 2007. Asia now accounts for 60% of the world\'s stainless steel production. In China, the world\'s largest stainless steel producer, stainless steel production rose 36% to 7.2 million tonne. The Western Europe and the African region reported a 13.3% decrease in stainless steel production to 8.7 million tonne during 2007 while America reported a 15.2% decrease in production to 2.5 million tonne. ISSF estimates that the real use of stainless steel grew by 7% during the second half of 2007 despite a steep drop in production. The higher demand was met through a massive stock draw, the likes of which has not been seen before. Resource from financial express [ L I S T ] WanJoo Metals All rights reserved. TEL : +82-2-585-2581, 2571,   FAX : +82-2-585-2587, 8799 FL.2 DaedeokPlaza Bldg, 206, Geumgok-Dong, Bundang-Gu, Seongnam-Si, Gyeonggi-Do 463-480, Korea