Commodity Market Report
Steel short-term outlook June 2022
Report summary
The global steel consumption outlook will remain bearish in the near term. Chinese recovery in June was slower than expected. Cost inflation and retaliatory hike in borrowing rates will tame consumer spending and private investments. No end in sight for the Russia-Ukraine war will keep supply chains under pressure and increase downside consumption risk for the EU and CIS region. The gloomy demand outlook and rising supply will weigh on steel prices in the near term. Our June short-term outlook covers: • Near term demand outlook and status of leading consumption indicators • Supply-side scenario • Key risks and opportunities • Steel price outlook and cost implications
Table of contents
-
Demand
- Steel demand in May remained muted with mere 1% growth
- No respite is expected in the coming months
-
Supply
- Production continued to climb despite sluggish demand
- Trade & Logistics
- Prices
- Demand
- Supply
- Trade & Logistics
- Prices
-
Demand
- Macro picture denting steel demand
-
Supply
- Crude steel production in Europe to contract in 2022
-
Prices
- European steel prices continue their downward trajectory
- Demand
- Supply
- Demand
- Supply
- Demand
- Supply
- Trade & Logistics
- Prices
- Steel Costs
- Iron Ore
- Coal
- Scrap
Tables and charts
This report includes 22 images and tables including:
- Country-wise exports
- Trade balance
- Steel prices (RMB/tonne)
- Steel margins (RMB/tonne)
- Public and private construction spending
- House starts and permits
- US HRC prices
- Interest rate and consumer spending
- Russia new car sales
- Russia steel exports in 2021
- Ukraine and Russia crude steel production
- Ukraine steel exports in 2021
- Indian HRC and rebar prices
- Indian steel production and exports
- Key macro indicators
- Monthly steel demand
- Demand-supply gap
- Tangshan billet stocks
- EU Passenger car registrations
- EU-27 + UK crude steel production
- Global HRC prices
- Pig iron and scrap prices
What's included
This report contains:
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