According to the latest statistics from the International Stainless Steel Forum (ISSF), global crude stainless steel amounted to 29 million tons in the first half of this year, growing by nearly 25% compared to the same period a year ago.

Among them, the production across the world has increased, including the growth of 20% in Europe, 18% in the US, 20% in China, 25.6% in Asia (mainly from Taiwan, Japan, and India), and 53% in Indonesia, South Korea, South Africa, Brazil, and Russia.

Yieh United Steel Corp. (Yusco) and Tang Eng Iron Works Co., Ltd., two leading stainless steel upstream suppliers in Taiwan, said that the international stainless steel prices have hiked more and dropped less, coupled with buyers’ strong purchase willingness and both production and sales entering a traditional peak season, it was expected that the future market will perform positively in the fourth quarter.