Commodity Market Report
Steel short-term outlook July 2022
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*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
Bears are overpowering bulls in the global steel market. The aftermath of the Russia-Ukraine war led supply chain disruption, rising energy prices and cost inflation is weakening the global consumer and business sentiment. Chinese demand is faltering as sluggish property construction is shadowing the recovery in manufacturing and infrastructure. The dull consumer sentiment and China’s zero-tolerance policy on Covid poses a further downside risk to our forecast. The unending Russia-Ukraine war, the threat of energy supply disruption amid rising western sanctions on Russia makes our global outlook skewed towards upside. Steelmakers are enduring margin compression due to feeble consumption, rising raw material and energy costs and falling steel prices. Operating rates are inching lower with extended maintenance schedules and furnace idling. Read our short-term outlook for more in-depth analysis of regional demand-supply-price outlook.
Table of contents
- Demand
- Supply
- Trade & Logistics
- Prices
- Demand
- Supply
- Trade & Logistics
- Prices
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Demand
- Macro uncertainty continues to undermine demand
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Supply
- Steelmakers forced to limit capacity on the back of low demand
- Trade & Logistics
-
Prices
- Falling prices puts pressure on producer profit margins
- 16 more item(s)...
Tables and charts
This report includes the following images and tables:
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Property indicators – yoy growth (%)Apparent steel consumption (Mt)Utilisation levels (%)
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Trade balance (Mt)Steel prices (RMB/t)Steel margins (RMB/t)US HRC-rebar price premiaAuto key leading indicatorsRussia new car salesRussia steel exports in 2021Ukraine and Russia crude steel productionUkraine steel exports in 2021
- 12 more item(s)...
What's included
This report contains:
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