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Global Steel Production (Feb.)

Growth in global steel production declined in February y/y. And though base effects will distort growth rates for a while yet, we reckon that China’s steel output growth will start to slow before long.
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Metals Data Response

Global Steel Production (Apr.)

Global steel production fell in y/y terms in April, as all major producers bar India recorded declines. High energy costs and soft demand for steel are both likely to persist for much of the remainder of this year, hindering any large upticks in production. In China, producers will also be under pressure to meet state emission targets.

24 May 2022

Metals Data Response

Global Aluminium Production (Apr.)

After a weak start to the year, it looks increasingly as though a rebound in China’s output will more than offset lower production in Russia and Europe so that global production will rise a touch this year. That said, supply in the world ex China will remain constrained, even assuming higher exports from China.

20 May 2022

Industrial Metals Update

Weaker demand to enable stocks to build

Exchange stocks of base metals have fallen so far this year as high power costs have choked the supply of refined metals. Yet, we expect stocks to build as a weaker economic outlook for key metal consuming regions will weigh on demand, and easing energy prices should enable supply to recover slightly.

13 May 2022

More from James O'Rourke

Metals Data Response

Global Aluminium Production (Feb.)

Average daily global aluminium production inched up in February. And with ShFE and LME prices at multi-year highs, we expect production to continue growing in 2021.

22 March 2021

Industrial Metals Update

Tsingshan news to cap nickel price

News on a potential breakthrough in the supply of nickel matte from Tsingshan has dampened nickel prices. Rather than a step-change in nickel market supply, we reckon that this development will simply act as a structural drag on the nickel price.

17 March 2021

Energy Data Response

US Weekly Petroleum Status Report

US commercial crude stocks soared again last week as refinery throughput remained well below normal levels. Given that production has almost entirely recovered, stocks will probably rise further next week.

10 March 2021
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