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ISSF sees uncertainty in global stainless steel growth this year.
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Francois Payet-Gaspard, the General Secretary of International Stainless Steel Forum (ISSF) said that there were a lot of uncertainties for the stainless steel’s panorama in short term, due to the weak economy and oversupply in China.
Payet-Gaspard added although the growth of stainless steel production was up by 25% and 3% in 2010 and 2011 respectively, it was not clear what it would be in 2012.
We are neither positive nor negative, we are very cautious. We believe this sector will keep growing between 5%~6 % over the long term, but for short term the outlook is very uncertain, he said.
From his point of view, the oversupply has become a very important problem, along with the fact that China has slowdown the demand growth rate in last 10 years. He said oversupply is all around Europe and Asia, especially in China.
News Date
6/1/2012 9:02:34 AM
reported by
Raul Lee
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