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Market Movers Asia : COVID-19 lockdowns hit steel demand in China
On this week’s S&P Global Commodity Insights’ Market Movers Asia with Remya Nair, Digital Content Editor: Asian refiners hunt for more Kazakhstan CPC Blend crude cargoes Steel demand in China hit by COVID-19 lockdowns Thermal coal demand in Asia is likely to pick up as winter peak...Read more -
Global steel production stable on year in Oct: worldsteel
Global crude steel production totaled 147.3 million mt in October, stable year on year, but down 2.9% from September to an eight-month low, according to World Steel Association data published Nov. 22. This brought total production for the first 10 months of 2022 to 1.55 billion mt, down 3.9% on t...Read more -
Liberty Steel reaches global debt restructuring agreement, still negotiating European debt
Steelmaker Liberty Steel, part of the GFG Alliance, has reached an agreement to restructure its global debt with some of its main creditors, although it is still negotiating debt restructuring for its European business, it said Nov. 15. The group has signed a term sheet with parties responsible f...Read more -
BLACK ANNEALED STEEL COILS
APPLICATION Commercial Steel, Structural Steel, Steel Pipe，Enamelling, High Tensile Strength Steel, Automotive Parts, Electrical Motors, Lighting Ballast, Major Appliances, Racking / Shelving, Water Heaters, Pools (Above Ground / Inground), Commercial Doors, Garage Doors, Drums And Pails, Strapp...Read more -
China’s newly commissioned iron and steel capacity add to supply pressure
China’s steel production continues to show a modest decline despite steelmakers facing poor profit margins, on the back of new pig iron and crude steel capacity launched in recent months, while a lack of any large-scale output cuts is failing to add pressure on production. Northern China, h...Read more -
EU steel demand to fall 3.5% in 2022 as economy worsens: Eurofer
Eurofer, the European association of the steel industry, has forecast steel demand in the EU to drop by 3.5% to 145 million mt in 2022, owing to a deeper-than-expected recession caused by the continuing worsening of the EU economy following Russia’s invasion of Ukraine and the energy crisis...Read more -
Cliffs sees bullish steel demand from US auto sector in coming quarters
Cleveland-Cliffs expects its quarterly steel shipment volumes to reach near or exceed 4 million st in the fourth quarter and subsequent quarters amid a rebound in steel demand from a recovering US automotive sector, CEO Lourenco Goncalves said Oct. 25. “We were encouraged by the 100,000 st ...Read more -
Asian economies ill equipped to meet EU cross-border carbon tax challenge
Asian economies are ill prepared for upcoming carbon market regulation by the European Union that proposes a levy on imports of carbon-intensive goods and makes goods produced in countries with weaker carbon pricing mechanisms highly uncompetitive, industry sources and analysts told S&P Globa...Read more -
Tanker freight rates outlook bullish as trade flows change
What’s happening? With almost a million barrels of Russian oil moving long-haul to Asia every day, instead of short haul trips to Europe, tankers are being employed for a longer duration. Persian Gulf-China VLCC freight has more than doubled from the abysmally low levels at the start of th...Read more -
China’s excavator sales rebound in Sept, but steel demand seen weak
China’s excavator sales rebounded in September from the previous month, but a sharp slowdown in property construction and COVID-19-related restrictions are expected to continue to drag on economic growth and steel demand. Excavator sales are a key indicator of construction activity in the c...Read more -
Export opportunity for Chinese billet, rebar
There is room for some uncertainty in the demand and price outlook for construction steel in Q4 as the market continues to be influenced by China’s dynamic zero COVID-19 strategy, which hit consumption levels in multiple major cities in the country. China’s appetite for construction s...Read more -
Trade Review: Asian steel prices to remain tempered in Q4 by low demand, high energy costs
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, and steel and scrap. We also explore what the next few months could bring, from supply ...Read more
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