Following a strong start to the year, global apparent consumption of cold-rolled flat products is on course to decrease slightly y-y during the second half of 2014. Macroeconomic factors—such as comparatively weak demand in China, and a post-summer slowdown in Europe—have played a role in dampening demand. So too has the correction in nickel prices since September.

Executive summary

Forecast nickel price rise likely to define 300-series prices in coming years 1

Global overview 17

1. Asia

      Chinese Q3 stainless exports remain elevated 17

2. Western Europe

      Growth forecasts cut as economic outlook darkens 20

3. North America

      US stainless consumption to grow by almost 5% in 2014 22

4. Rest of the world

      Growth slows as major countries fight inflation 24

5. Patterns of end use

      Household products growth to drive consumption in 2014 25

6. Metals consumption growth 26

7. Capacity update 27

8. Prices

      Nickel lowers transaction prices but 2015 rebound expected 31

Appendix A

Industrial and economic outlook, 2014-2019 35

Statistical Review 61

冶金工业信息标准研究院