Country Report
Global steel cost summary
Report summary
The COVID-19 pandemic disrupted steelmaking raw material markets resulting in a wobbly year for prices, and consequently steelmaking costs. Other than the pandemic, China remained the key driver of raw material prices in 2020. Unexpected strong demand, higher hot metal production (contrary to production decline ex-China) and import ban on Australian coal were the major moves from China that kept the market dynamic. For the year, iron ore prices were up 18% while hard-coking coal prices and scrap prices were down by 25% and 7% respectively. The overall result is the global average cash cost for finished steel decreased by 2.1% in 2020, to US$458/tonne.
Table of contents
- Raw materials pricing
-
Average country costs
- BOF cash costs
- EAF cash costs
- Outlook for cash costs
- Emission curve
- Sinter
- Coke
- Pellet
- Iron production
- Crude steel production
- Asia Pacific
- Americas
- EMEARC
Tables and charts
This report includes 13 images and tables including:
- Raw materials price outlook
- 2020 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
- 2020 weighted average finished steel cash cost by country - BOF
- 2020 weighted average finished steel cash cost by country - EAF
- 2020 cash negative costed production
- 2020 weighted average operating margin and finished steel cash cost by country
- 2020 Total emissions by country (CO2-e/t)
- 2020 BOF emissions by country (CO2-e/t)
- 2020 EAF emissions by country (CO2-e/t)
What's included
This report contains:
Other reports you may be interested in
01 February 2023
Steel short-term outlook January 2023
Commodity Market Report
Steel short-term outlook January 2023
Steel to evoke the tale of two halves in 2023
$5,00002 February 2023
Global oil cost curves and pre-FID breakevens - updated H2 2022
Insight
Global oil cost curves and pre-FID breakevens - updated H2 2022
Pre-FID supply has become cheaper as companies continue to drive cost savings; 6 million b/d breaks even below $40/bbl
$6,00002 February 2023
Global gas & LNG weekly summary: 2 Feb 2023
Commodity Market Report
Global gas & LNG weekly summary: 2 Feb 2023
Prices struggle to find a floor, as demand remains below-average and market tries to balance itself. Freeport progresses towards start-up.
$4,000
