IT’S ALL IN THE NUMBERS
There is no denying that the previous year has left a trail of destruction in its wake with the stainless steel sector not excluded. This is apparent in the decline in industry outlook and the decrease in apparent consumption as experienced last year. In fact, the statistics for 2019 – 2020 show a drop of 26% in the apparent consumption of stainless steel which can be translated into: that more than a quarter of the stainless steel converted in 2019 has disappeared in a single year.
The situation is dire, but our sector has proven itself to be resilient and has learnt the tricks for survival during tough times.
The year on year comparison for January 2021 shows a positive turn in these numbers. Latest statistics show that in all contributing areas for calculating the nett apparent consumption, there is an improvement on the figures from the previous year. Considering that the pandemic did not influence the January 2020 statistics, this is a positive start to the year.
It is also reported that some sectors within the stainless steel industry have excellent order books and that certain niche markets experienced little impact on normal business. The environment for general fabrication remains fragile. The domestic and residential market for stainless steel appliances and products also cooled down. The global forecast for stainless steel consumption and demand looks positive.
Reflecting on this, we can summarise by agreeing on the state of the national economy not making life easy for the industry. We trust that strong political will and certain key moments forced upon us by the pandemic will allow the necessary action to grow our industry as a major contributor to value adding, job creation and earning foreign income.
