Commodity Market Report
Steel short-term outlook May 2021
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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
Chinese government enforced production cuts have yet to impact the market, so we think more will be done – likely attempts to curb underlying steel demand which will then see output ease. Chinese prices showed signs of peaking in mid-May. But US and EU prices appear non-stoppable as sentiment takes over. Also in this month’s short-term outlook: • Can US steel demand get any stronger? • EU supply has all-but recovered post-pandemic with demand showing signs of weakness – when will the price plummet come? • India steel stalls as the pandemic rages – can it bounce back?
Table of contents
- Prices and cost
-
China
- Chinese steel prices start to cool
- What has happened to prices in the past few weeks?
- Prices surged uncontrollably at the start of May
- Steel prices started to tumble by mid-May
- Despite all government efforts, production keeps marching ahead
- What does this mean for prices?
-
US
- Demand is at full steam , but growth in residential is just unparalleled!
- Supply: pre-COVID-19 recovery is proving to be a drawn-out affair
- The outcome: prices up imports up!
-
EU and UK
- Supply
- Trade
- Demand
- Prices
-
India
- Indian steel production loses momentum due to severe second pandemic wave
- Steel exports to provide lifeline and domestic prices expected to soften in the near term
-
Japan
- Mixed signals from end-use sectors
- 2. Neutrals
- 3. Inhibitors
-
South Korea
- Green shoots confirm demand recovery
- Iron ore
- Coal
- Scrap
- Green steel initiatives and other industry developments
Tables and charts
This report includes the following images and tables:
- Steel demand and export outlook
- Steel order book improving and inventory falling
- Steel demand and export outlook
- Key consumption indicators seen improving
- HRC prices and margins
- Rebar prices and margins
- Blast Furnace utilisation rates (%)
- Daily HM production (MT)
- Key leading indicators
- Housing market indicators
- Growing prices, growing imports!
- EU + UK crude steel output
- 14 more item(s)...
What's included
This report contains:
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