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Global steel cost summary

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16 March 2021

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
    • BOF cash costs
    • EAF cash costs
    • Outlook for cash costs
  • Emission curve
  • Sinter
  • Coke
  • Pellet
  • Iron production
  • Crude steel production
  • Asia Pacific
  • Americas

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

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    Global steel cost summary

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    Global steel cost summary

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    Global Steel Cost Summary

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