Country Report
Global steel cost summary
Report summary
Steel prices, steelmaking costs and, by extension, steel mill margins experienced a volatile year in 2022. After a sharp jump of 40% in 2021, global finished steel cash costs rose even further in 2022, primarily driven by surging raw material and energy prices. Iron ore prices fell 22% for the year while hard-coking coal prices exploded by 97%. This price rise increased global average cash costs for finished steel by 15% in 2022 to reach US$736/t. Concerning steel technologies, average costs for BOF mills climbed by 17%, while EAF costs rose by 5% over 2022. The critical demand and cost deterrents for the year were the Chinese property sector downturn and stringent Covid restrictions, the Russia/Ukraine conflict-led global supply chain disruptions, the energy crisis, and the slowing of international private and public expenditure amid rising inflation and credit tightening.
Table of contents
- Sinter
- Coke
- Pellet
- Iron production
- Crude steel production
-
Raw materials pricing
- Iron ore
- Coal
- Scrap
-
Average country costs
- BOF cash costs
- EAF cash costs
- Outlook for cash costs
- Emission curve
- Asia Pacific
- Americas
- EMEARC
Tables and charts
This report includes 13 images and tables including:
- 2022 steel CO2-e emission curve (Scope 1&2)
- Crude steel cost curves under carbon price scenarios
- Asia Pacific steel plant coverage
- Americas steel plant coverage
- EMEARC steel plant coverage
- Raw materials price outlook
- 2022 weighted average finished steel cash cost by country - BOF
- 2022 weighted average finished steel cash cost by country - EAF
- 2022 cash negative costed production
- 2022 weighted average operating margin and finished steel cash cost by country
- 2022 Total emissions by country (CO2-e/t)
- 2022 BOF emissions by country (CO2-e/t)
- 2022 EAF emissions by country (CO2-e/t)
What's included
This report contains:
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