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Global stainless steel production was 11.8 million metric tons in the first three months of 2017, according to figures released by the International Stainless Steel Forum. That represents a 14.5 percent increase over the first quarter of 2016 and a decrease of 3.5 percent from the previous quarter.

U.S. producers saw large year-over-year growth, increasing production 36.2 percent to 721,000 tons. Quarter over quarter, U.S. production was up 10.8 percent.

European production grew to nearly 2 million tons in the first quarter, up 6.1 percent year over year and 8.4 percent from the previous quarter. Production in China increased 19.4 percent to 6.2 million tons, compared with the year-ago period. Excluding China and South Korea, the rest of the Asian market produced almost 2 million tons, a 6.5 percent increase over 2016.