Metals Data Response

Global Aluminium Production (Oct.)

Global aluminium production rose in October and set a monthly record. This is unlikely to be broken over the next few months as China’s output should fall as smelters curb output over winter.

20th November 2023 · 2 mins read

Metals Data Response

Global Steel Production (Sep.)

Monthly global steel output in September fell in year-on-year terms for the first time in 2023, in large part due to a contraction in China’s production. With demand set to remain weak and low...

24th October 2023 · 3 mins read

Metals Data Response

Global Aluminium Production (Sep.)

After reaching a record high in August, global aluminium production eased back in September but remained strong. Given that demand growth is relatively subdued, the increase in global supply may only...

20th October 2023 · 2 mins read

Metals Data Response

Global Steel Production (Aug.)

The slowdown in global steel production in August is consistent with our long-held view that slowing demand will weigh on production in the second half of this year. Weakening demand stems from...

25th September 2023 · 2 mins read

Metals Data Response

Global Aluminium Production (August)

An increase in year-on-year production growth, coupled with upward revisions to the back data, means that global aluminium supply is much stronger than previously thought. Production reached a record...

20th September 2023 · 3 mins read

Metals Data Response

Global Steel Production (Jul.)

Global steel production will probably continue to edge lower in the next few months, following the latest month-on-month decline revealed by the WSA today. Crucially, we think that steel demand will...

22nd August 2023 · 2 mins read

Metals Data Response

Global Aluminium Production (July)

Global aluminium production growth slowed for the seventh consecutive month and dipped into contractionary territory in July on the back of weakness in China. We think production growth will stagnate...

21st August 2023 · 2 mins read

Metals Data Response

Global Steel Production (Jun.)

Global steel production growth picked up in June, albeit only to a pace consistent with stagnant growth. With the rise in output in China on shaky ground and weak demand beginning to weigh on supply...

25th July 2023 · 2 mins read

Metals Data Response

Global Aluminium Production (June)

Global aluminium production growth eased again in June, in a sign that smelters are responding to weak demand growth. We think that production growth will remain subdued over the next few months as...

20th July 2023 · 2 mins read

Metals Data Response

Global Steel Production (May)

Global steel production fell sharply in y/y terms in May. Against the backdrop of subdued demand and stringent supply caps in China, the supply outlook over the next few months appears bleak.

21st June 2023 · 2 mins read

Metals Data Response

Global Aluminium Production (May)

If reports of a forthcoming easing of output restrictions in Yunnan province are accurate, then the ongoing slowdown in China’s aluminium production growth could come to an end soon. Much will also...

20th June 2023 · 3 mins read

Metals Data Response

Global Steel Production (Apr.)

Steel mills reduced output in April in y/y terms, meaning that global production is down year-to-date. We think that producers will continue to limit output for a few more months due to tepid demand.

23rd May 2023 · 2 mins read

Metals Data Response

Global Steel Production (Mar.)

There were clear signs of a pick-up in global steel production in March, led by China, but output in the EU also ticked up. However, the rise in supply is going hand in hand with increasing stocks. We...

21st April 2023 · 2 mins read

Metals Data Response

Global Aluminium Production (Mar.)

Global production growth y/y slowed in March and came close to stalling. In fact, excluding China, global production growth was 0%. These latest data are consistent with our view that output growth...

20th April 2023 · 2 mins read

Metals Data Response

Global Steel Production (Feb.)

There were a few positive signs in February’s steel production figures; output in China grew healthily and production in advanced economies (DMs) appears to have troughed. However, any rebound in DM...

23rd March 2023 · 2 mins read