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MARKET DEVELOPMENT

In 2007, the market for carbon steel and stainless steel equipment developed very positively. Project activity was high in all major steel producing regions worldwide, especially in Europe, the USA, Russia, China, and India. Several orders for new plants and the modernization of existing steel mills were awarded. For the full year 2007, global crude steel production is expected to increase by approximately 8% compared to last year, to approximately 1,350 million tons.

In the stainless steel sector, project activity for the modernization of existing plants, as well as for new plants, also developed positively. The continued strong demand for stainless steel, especially from the fast growing economies like India and China, was the main driver for this development. For the full year 2007, market researchers expect global stainless steel production to increase by approximately 9% compared to 2006.

Sources: ISSF, IISI, MEPS