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Steel: what to look for in 2016

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Report summary

With the only growth coming from mature saturated regions or relatively small emerging economies it is no surprise that we expect a 40 million tonnes contraction for global steel demand in 2015. And while we expect demand to start growing again we do not expect a radical change of scene in 2016 nor in the medium term for that matter. The single most consequential trend for steel demand will remain the contraction in the construction sector in China. Despite steps to erode the stock of unsold houses we expect the level to remain very high and possibly rise further in 2016. As a consequence the investment appetite in the construction sector will remain depressed the capacity of China's economy to absorb its own enormous steel production limited and the volume of exports from China very high albeit lower than in 2015. In sum this will lead average 2016 prices below 2015 levels.

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  • Document

    Steel: what to look for in 2016

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Table of contents

Tables and charts

This report includes 9 images and tables including:

Images

  • China stock of unsold property
  • China steel in construction sector growth
  • Producers remain heavily dependent on exports
  • Producers remain heavily dependent on exports
  • Shagang BOF vs EAF-allscrap
  • Import price change, Jan-December 2015
  • MENA reversed imports
  • MENA DRI production

Tables

  • Supply response ex-China

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