Commodity market report


Get this report


You can pay by card or invoice

Contact us

Submit your details to receive further information about this report.

For details on how your data is used and stored, see our Privacy Notice.

- Available as part of a subscription
- FAQ's about online orders

03 October 2017


Report summary

Table of contents

  • Executive summary
    • China: low steel inventories support prices
      • Capacity cuts have gathered pace since June
    • EU: steelmakers face weakening demand
      • EU steelmakers make investments downstream
      • Anti-dumping measures are keeping EU steel prices higher for longer
    • US steel prices have eased marginally
      • Three factors supported steel prices in July
      • Good times cannot last forever
        • Steel and scrap prices (tables and charts)
    • More volatility in July iron ore markets
    • Spot coking coal price holds at $100/tonne CFR China
    • Scrap prices
    • Global
    • China
    • Europe
    • USA
    • India
    • Japan
    • Russia
    • Brazil

Tables and charts

This report includes 38 images and tables including:

  • Prices and other key data
  • EBITDA margin for selected steel makers (table and chart)
  • Key companies: Image 1
  • Korea generates enough scrap to withstand fluctuations in scrap import prices...
  • ...while Turkey domestic availability of scrap is lower and purchases are more volatile
  • Costs: Table 1
  • Operating results
  • Global crude steel production stagnates
  • Diverging PMI indices
  • Demand is improving in emerging markets…
  • Demand is diverging in the mature economies
  • Crude steel production will continue to rise in Q3
  • Another round of re-stocking will start in Q3
  • EU steel imports have not decreased...
  • The EU has become a net importer of steel
  • Underlying steel demand growth remains slow
  • Steel service centre stocks have fallen…
  • Indian steel demand continues to grow…
  • Trade wars continue
  • The construction sector will continue to be weak until August
  • Production recovered in Q2, and will continue to increase in Q3
  • Demand outlook remains weak…
  • Finding a destination for exports is difficult…
  • 2016 marks a low point for Brazilian steel demand
  • 3Mtpa of crude steel capacity comes on line
  • Key quarterly data
  • Price recovered from early June to mid-July
  • Chinese crude steel production revised up
  • Supply-demand balances: Image 3
  • …whereas UK CPI growth was negative in May with a continued decline in steel demand likely.
  • Total EU CPI is negative, however the region continues to have positive steel demand growth, albeit subdued.
  • UK new passenger vehicle registrations decreased year-on-year in May although total EU registrations grew.
  • In the US, HR coil prices have followed a normal pattern and have increased when the market is tight and stocks are low
  • Despite the trade cases attracted by high US domestic prices, imports have actually started to rise
  • Supply-demand balances: Table 1
  • Robust demand from automotive supported steel prices in the EU and the USA in July, but regional premia remain high.
  • Steel inventories at their lowest since 2010 have lifted steel prices in China. We expect more of the same in H2.
  • Supply-demand balances: Table 2

Browse reports by Industry Sector