Insight
Steel: 5 things to look for in 2017
Report summary
In 2016, Chinese steel demand growth was stronger and capacity closures more aggressive than we had anticipated, sending ripple effects across the world. The most dramatic of which was the surge in both iron ore and coal prices. At the same time we did highlight the weak prospects for demand growth in Brazil, Russia and India, and indeed these steel giants have continued to disappoint. We also foresaw a steady increase in trade cases globally which has come to fruition. As the global political landscape adjusts to the new realities, so 2017 promises to be yet another interesting year. In this note we focus on five major issues specific to the steel industry.
Table of contents
- 1. Futures to exacerbate spot price volatility
- 2. Raw materials costs to set lower limits on steel prices
- 3. China – more of the same but 'de-capacity' should support prices
- 4. Global trade will slow
- 5. The wind of change in the US
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