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Commodity Market Report

Global Steel Strategic Planning Outlook – Q2 2022

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21 June 2022

Global Steel Strategic Planning Outlook – Q2 2022

Report summary

The steel industry continues to reel under rising global inflation, high energy prices, coronavirus infections and the Russia-Ukraine conflict. Global growth to flat line in 2022 with Europe, Russia and Ukraine being major detractors and the US, India and Southeast Asia – being the key drivers. Lockdowns in China derailed consumption in the first half. We expect demand to bounce back in the second half, led by infrastructure. The steel supply mix is in for an overhaul as decarbonisation initiatives intensify. We have incorporated carbon emission outlook, hydrogen-based steel production, hydrogen demand and carbon offset measures such as CCUS demand in our report. Our strategic planning outlook answers: 1) Will the Chinese steel market rebound in 2022? What will be the impact of global cues on steel market dynamics? 2) Impact of decarbonisation on steel supply landscape and carbon emission outlook 3) How will prices fare amid rising global uncertainties?

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