Western world crude stainless steel production will decline this year. Re-cent events in the United States, combined with a slower than anticipated pick up at the start of the second half have prompted us to revise our estimate for the full year. Total western world output is fore-cast at 17.8 million tonnes - a reduction of approximately 750,000 tonnes (4 percent) on the 2000 out-turn.This will be the largest cut back in output on record. However, in percentage terms, it does not nearly match the 1981 correction after the oil crisis. Chinese and CIS production are not included in these figures. They are likely to show a slight up-turn this year.
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