According to Austria based consultancy Steel & Metals Market Research, the stainless steel industry has left the crisis behind, at least from a global perspective. Production 2010 reached a new record of 32.2 mill tonnes on a crude steel basis.

Mr Markus Moll MD of SMR said that the share of 300 Type grades (Nickel Austenitic) was 57.5% in 2010. The surprisingly high volume (most industry specialists expected a number closer to 30 million tonnes) results from a stronger than expected production in the non organized sector in India and the private producers in China.

For 2011, a moderate production growth to 35 million tonnes (+7%) is expected.

According to SMR's figures, the Chinese crude stainless steel production reached 11.8 million tonnes in 2010, up by 7% YoY from 11 million tonnes in 2009 and the Indian production reached 2.9 million tonnes, up by 12% YoY from 2.61 million tonnes in 2009.