Commodity Market Report
Steel short-term outlook May 2021
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 26 images and tables including:
- 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
- EU + UK hot metal production
- EAF production in EU + UK
- EAF share of total production
- EU crude steel production growth
- EU crude steel production year-to-April
- Net imports of steel into the EU and UK
- Imports of steel by source
- EU industry ex-construction versus BOF production
- EU construction versus EAF production
- Indian crude steel production and growth
- Indian trade
What's included
This report contains:
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