STATE OF THE STAINLESS STEEL NATION
In its most recent reports, the ISSF indicates that the global growth of the use of stainless steel has maintained historic levels of 5.68% (compound annual growth).
The compound growth figures of major metals up to 2020 show that stainless steel remains the fastest growing metal with aluminium its closest rival. The sustainability of stainless steel in terms of Life Cycle Costing, recyclability and its general low impact on the environment is showing value in the latest figures.
Interestingly, the forecast for cold rolled flat products remains smooth given the COVID-19 pandemic’s influence on production and demand in the first quarter of 2020. However, the hot-rolled global forecast indicates an outlook with large fluctuations. Long products show a similar trend cold rolled products. As a result, the forecast for all products appears below average with the impact of the hot rolled fluctuations visible in its effect.
The hygienic properties and cleanability of stainless steel are also becoming more important with the renewed requirements for sanitisation as a result of the pandemic. This shows that a modern world cannot function without stainless steel whether in private residences, public spaces, or industry.
Stainless steel is truly a modern material for modern society with a 100- year track record in unbeatable service to humanity.
Sassda statistics for the local market is shown on the next page for the period October 2019 to September 2020 vs. October 2020 to September 2021.
An increase in local production, imports, and exports. This results in a growth in apparent local consumption of 36%. This is a sign of COVID delayed projects gaining traction and new work surfacing. Stainless steel is employed in sometimes critical applications and projects in these applications will continue.
On the coal face of South African fabrication of stainless steel projects, industry sentiment reflects t he ‘ roller c oaster ride’ of the past two years.
The confidence levels of Sassda members sharply increased from the low (25%) levels recorded a year ago to a confidence level around 60% for the last three months. The decline in member confidence over the last two or three months can be ascribed to the impact of social unrest, strikes and uncertainty about electricity supply. However, our industry has a track record of being innovative and resilient and we believe that the new year will bring new hope.
To this end, Sassda will continue doing its best to provide opportunities for assistance, learning and marketing of your company as the most active stainless steel association globally.
Simply Brilliant!