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Print[Ferro-Alloys.com]Global stainless steel production rose 3.3% to a new record in 2011 as higher output from China more than offset lower output from the Americas and the rest of Asia, data from the International Stainless Steel Forum showed Wednesday.
Global stainless steel production reached 32.1 million metric tons in 2011, compared with 31.1 million tons in 2010. China, the world's largest stainless steel producer, increased output of the corrosion resistant steel product by 11.9% to 12.6 million tons in 2011.
The move to a consumer-led economy in China means that the "stainless steel growth rates are likely to be maintained at a higher level than carbon steel growth rates in the future," he said. He added that global stainless steel production could rise at 6% a year over the next five years.
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