The glimmer of stainless: stainless steel production continues to increase around the globe, driving the need for scrap material.(STAINLESS STEEL UPDATE)

Recycling Today | April 1, 2007| | Copyright

Stainless steel has been around for approximately 100 years. During that time, the meal has shown an annual growth rate of 6 percent, something very few metals can claim.

World stainless steel production reached 28 million metric tons last year. Meanwhile, prices for stainless steel have been climbing. The key reason for the price increase is the soaring price of nickel.

For 2007, smelting production is expected to be approximately 27.7 million metric tons, with about 14.7 million metric tons of finished product. Approximately 5.4 million metric tons of long product and ...

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