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Steel Monitor Captures Latest Market Data

Thursday, August 4, 2016

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A new series of reports detailing current steel trade flows involving the world’s top importing and exporting countries has been made available by the U.S. Department of Commerce.

The initial release from the Department’s International Trade Administration includes 20 country-specific reports and a global summary that provide U.S. businesses with updated market intelligence on steel mill product trends, U.S. Secretary of Commerce Penny Pritzker announced Monday (Aug. 1).

These reports serve as the basis for the Commerce Department’s expanded monitoring and analysis efforts via its Global Steel Trade Monitor site. The Monitor is scheduled to be fully implemented in 2017.

continuous slab caster
Photos: United States Steel Corporation

The Department of Commerce, through its International Trade Administration, has issued 20 country-specific reports and a global summary that provide U.S. businesses with updated market intelligence on steel mill product trends.

“The Obama Administration understands the impact of unfair trade practices on our steel industry, and has taken strong action to mitigate the effects of global excess capacity on our businesses, our communities, and our workers,” said Secretary Pritzker.

“The reports we are releasing today are in direct response to our industry’s desire for more comprehensive and transparent information about global steel trade trends, which will strengthen our companies and our government’s ability to address challenges facing this critical sector,” she added.

Steel Market, Trends

The enhanced Global Steel Trade Monitor offers new data and functionality in two important ways, Pritzker explained.

The Monitor itself defines steel products consistently across countries and features graphical and data components that offer insight into the global flow of steel. This will allow stakeholders to compare markets and objectively evaluate and react to market trends.

Quarterly country reports for the top 20 steel importing and top 20 steel exporting countries will offer broad global steel data to inform the public about current trends in steel trade flows.

coils of coated steel

“The reports we are releasing today are in direct response to our industry’s desire for more comprehensive and transparent information about global steel trade trends," said Secretary of Commerce Penny Pritzker.

“The Global Steel Monitor significantly enhances the scope of the Department's monitoring and analysis of the steel sector, and confirms our commitment to provide the public with relevant trade data in this key industry,” said Assistant Secretary for Enforcement and Compliance Paul Piquado. “These new reports provide parties with an additional tool to analyze the market.”

The Global Picture

The new Global Steel Report delivers an overview of currently available statistical data on the global steel trade and the regions and countries that play a large role in it.

Information in this report includes global export and import trends, production, capacity and consumption data that should help users gain new insights into the global steel marketplace.

According to the data, Asia and Oceania topped the world steel-producing regions by outputting 1.12 billion metric tons of steel in 2015, or 69 percent of the 1.6 billion metric tons of global production. The European Union came in second with a 10 percent share of production (166 million metric tons), followed by North America with a 7 percent share (111 million metric tons). 

Steel production fell across all regions in 2015, the report notes, but North America saw the largest negative growth rate, at –8.6 percent. The Other Europe region was close behind with a negative growth rate of –5.7 percent.

When it comes to consumption by end use markets, the building and infrastructure sector reportedly far outpaces the rest of the markets, using half of the steel produced globally. This includes use in housing, rail, bridge and green energy construction.

hot strip mill pulpit

Use of steel in the building and infrastructure sector accounts for 50 percent of consumption of globally produced steel mill products, according to the Global Steel Report.

The mechanical equipment and automotive sectors combine to demand 30 percent of steel produced, according to the data. Next in line are metal products (i.e., consumer and other goods) at 11 percent and other transport (including shipbuilding and trains) at 5 percent.

In terms of import and export by steel mill product, the numbers by category were reported to be similar on both sides. Flat products accounted for about 50 percent of trade. Exports and imports of long products accounted for about a quarter of the global steel trade. The remaining quarter was comprised of semi-finished products at just over 10 percent, pipe and tube products at 8 percent, and stainless products at 4 percent.

Top Ten by Country

Also available on the site are individual reports for the Top Steel Exporting Countries in 2015 (ranked by metric tons exported):

  1. China;
  2. Japan;
  3. South Korea;
  4. Russia;
  5. Germany;
  6. Ukraine;
  7. Italy;
  8. Belgium;
  9. Turkey; and
  10. France.

Current reports for the Top Steel Importing Countries in 2015 (ranked by metric tons imported) include:

  1. United States;
  2. Germany:
  3. South Korea;
  4. Turkey;
  5. Italy;
  6. Thailand;
  7. France;
  8. India;
  9. China; and
  10. Belgium.

Each country report includes a background overview; export and import trends by country; and aggregate product, production and consumption data. Where available, information is also provided on trade remedy actions taken on steel products, such as the recent Department of Commerce decision to levy duties on corrosion-resistant steel coming from companies in China, India, Italy, Korea and Taiwan.

In the coming weeks, the Department intends to release another group of reports covering the 10 next-largest steel-importing and exporting countries.

Ultimately, the entire series of reports will be updated on a quarterly basis to reflect the latest data and market trends.

   

Tagged categories: Asia Pacific; Department of Commerce; EMEA (Europe, Middle East and Africa); Government; Latin America; Market research; Market share; Market trends; North America; Program/Project Management; Steel

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