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China’s slowing construction activity to keep steel markets under near-term pressure
The downtrend in China’s construction activity, which has been slowing since April due to a weaker-than-expected property sector, is expected to continue into June, keeping Chinese steel prices under pressure, industry sources said May 23. The weakness in the construction sector is expected...Read more -
Ferrous scrap, metallics markets gear up for low-emissions steel shift
Ferrous scrap markets are eying an increasingly broader role in steel sector decarbonization as a move to expand electric arc furnace steelmaking in Europe, North America and Asia gathers pace with a stronger need for high purity scrap and direct-reduced iron. Recycled steel scrap grades and meta...Read more -
Chinese steel prices jump, but gains seen short-lived on modest output curbs
Steel prices in China rebounded sharply May 8 on optimism over reduced steel output, but the rally may run out of steam as some market participants saw production curbs not enough to offset weak demand. The Chinese domestic hot rolled coil prices in Shanghai spot market jumped Yuan 100/mt ($14.5/...Read more -
Asian steel mills stare at tough Q2 on slowing China demand; scrap outlook cloudy
Asian steel mills are set for a tough second quarter with potentially frail China consumption and increased output, but there is some optimism that demand will rebound around May thanks to an expected recovery in Chinese property sector. “China’s steel market in the April-June quarter...Read more -
TRADE REVIEW: Iron ore prices to maintain firm footing through Q2 peak demand season
This report is part of the S&P Global Commodity Insights’ Metals Trade Review series, where we dig through datasets and digest some of the key trends in iron ore, metallurgical coal, copper, alumina, cobalt, lithium, and steel and scrap. We also explore what the next few months could br...Read more -
China and Brazil Agree to Dump Dollar for Trade – AFP
China and Brazil have struck a deal to trade in their own currencies instead of the US dollar, the Brazilian government said on Wednesday, in another hit to US economic influence China and Brazil have struck a deal to trade in their own currencies instead of the US dollar, the Brazilian governme...Read more -
China and Brazil Agree to Dump Dollar for Trade – AFP
China and Brazil have struck a deal to trade in their own currencies instead of the US dollar, the Brazilian government said on Wednesday, in another hit to US economic influence China and Brazil have struck a deal to trade in their own currencies instead of the US dollar, the Brazilian governme...Read more -
Supply tightness, Turkish demand buoying US ferrous scrap market: Schnitzer CEO
Bullish sentiment within the US ferrous scrap market should persist this year, following four straight months of domestic price increases, due to tight supply conditions and strong export demand, Schnitzer Steel CEO Tamara Lundgren said April 5. Lundgren said greater export opportunities are high...Read more -
China’s huge steel capacity beleaguers steel market, government to order output cuts soon
China’s fast-rising steel production but slowly recovering end-user demand has continued to squeeze steel profit margins in April, with mills still showing no signs of cutting back on production. Mill sources said China’s steel capacity was too huge, but demand had more or less platea...Read more -
India likely to turn net steel importer in FY 2022-2023
India is likely to swing to becoming a net importer of finished steel in the financial year ending March 31, 2023, showed provisional data from the Joint Plant Committee. In the year ended March 31, 2022, India was a net exporter of finished steel, with outflows of 13.49 million mt versus imports...Read more -
China’s steel scrap imports in 2023 may not breach 1 mil mt mark: sources
China’s steel scrap imports may not be able to go past the 1 million mt mark in 2023 because of higher quality standards that limit available supplies, analysts said March 24. In 2022, China imported 558,900 mt of recycled steel materials, up just 0.6% on the year, according to the latest c...Read more -
Shipping market outlook—Container vs dry bulk: First-quarter 2023 update
After returning to the pre-pandemic level, dry bulk freight rates may recover with mainland China’s easing “zero-COVID” policy in the medium term and limited active supply in the long term, while container freight rates are expected to decline further with reduced congestion an...Read more
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