Commodity Market Report
Steel short-term outlook January 2022
This report is currently unavailable
*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
China wants blue skies for the Winter Olympics. When the games begin, pollution control will tighten and steel mills will be expected to reduce output by 30%. Later in the year, curbing property speculation and emissions reduction remain on the agenda. But at the same time, China will go all-out to keep GDP growth on target. How China balances these two priorities will be crucial for steel demand growth. Also in this month’s steel markets outlook: • The semi-conductor chip shortage means less vehicles will be produced, particularly in the US and the EU. But a focus on high-margin units means steel demand can counterintuitively post double-digit demand growth this year. • Japan and Korea will benefit from the “more steel demand per semi-conductor” phenomenon as they export high-grade, EV-ready steels. • Indian manufacturing demand is also weak. But infrastructure and property growth will mean full-year demand growth hits double digits.
Table of contents
-
China
- Strong production in December restricted 2021 production decline to 3% year-on-year
- Production momentum improved in January, led by BOF production
- but will not be sustained throughout Q1
- Policy easing to continue in 2022, benefiting construction sector
-
US
- Automotive: is the worst over?
- Clean metallics hunt: it’s game on
- EU and UK
- Turkey
-
India
- Dwindling steel production growth
- Weak demand in the manufacturing sector
- but infrastructure and property sector look promising
- What to expect for the rest of Q1
-
Japan and South Korea
- Will exports continue to rescue the steel industry in 2022?
- Trade diversification on the anvil
- A few similarities and divergent trends emerge while assessing the export data
- Our expectation for 2022
- Iron Ore
- Coal
- Scrap
- Green steel initiatives
- 1 more item(s)...
Tables and charts
This report includes the following images and tables:
- HMS Scrap CFR Turkey by currency
- Turkey crude steel output 5 year range
- Monthly steel production (Mt)
- Raw material prices
- Steel margins
- Utilisation rates (%)
- Daily hot metal production (Mt)
- Metallics imports
- Auto and light truck assemblies and inventory to sales ratio
- Index of Manufacturing
- Crude steel production and growth
- Japan: Trade volume and trade balance growth
- 2 more item(s)...
What's included
This report contains:
Other reports you may be interested in
Insight
Perth metals briefing - market dynamics, outlook and geopolitical influence
During our Perth briefing we looked across commodities with a deeper dive into lithium, copper, gold and iron ore.
$1,050
Insight
2025 zinc benchmark TC: a new era or a strategic move?
The 2025 annual zinc benchmark contract treatment charge is understood to have been settled. Was this a strategic move by smelters?
$1,050
Insight
Global oil supply short-term update - May 2025
Weakening demand outlook and OPEC+ easing of production cuts puts pressure on prices
$1,350
