The world’s crude stainless steel output would increase by 0.8% year on year to reach 34 million tons in 2012, according to the estimates made by the UK-based MEPS.

In 2012, the crude stainless steel products produced by China would be at 14.3 million tons, up by 1.1% year on year, according to MEPS.

In addition, South Korea’s stainless steel output would be up by 0.7% from a year ago in 2012, in spite of the major stainless steel mills’ production cut.

Taiwan’s crude stainless steel production would decrease by 8.6% year on year in 201 due to further production reduction caused by sluggish demand and oversupply.

Japanese crude stainless steel output would slide by 1.1% year on year in 2012, caused by weak exports due to debit crisis in euro zone.

Besides, the US’s stainless steel production was predicted to drop by 1.6% and the EU’s was estimated to fall by 0.3% in 2012, both compared to the figures in 2011.

Meanwhile, MEPS expected that the world’s crude stainless steel output would rise by 3% year on year to reach 35 million tons in 2013.