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Stainless steel production to rise

The International Stainless Steel Forum is forecasting another year of growth for stainless steel production.

Stainless steel production is expected to reach 24.4 million tonnes this year, representing a 6.8% rise on 2003 production.

The forecast found that Asia was now the largest stainless steel-producing area in the world. In 2004, Asian production is expected to grow by more than 7% to 11.4m tonnes.

But for 2005, growth could slow, according to the forum. The 2004 predictions included a certain and necessary stock build at stainless steel service centres and fabricators. This trend could reverse in 2005, however.

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