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Friday, 26 October 18
SEVERAL CONTRACTIONS IN GLOBAL STEEL PRODUCTION - JEFFREY LANDSBERG
CommodoreWorld Steel Association data released today shows that global crude steel production totaled approximately 151.7 million tons in September.  This is the same amount that was produced in August and is 10.3 million tons (7%) more than was reported last year for September 2017's production. The increase has been robust, but it has been Chinese steel production that has been largely accountable for the strength.  As we have discussed in previous work, China's crude steel production last month increased year-on-year by just over 9 million tons.  Globally, real weakness in steel production is being seen in many nations around the world.  This is a reflection of weakness in the global economy, Jeffrey Landsberg, Managing Director of Commodore Research & Consultancy said in his latest report.
 
He further noted that, of note is that global crude steel production outside of China totaled only 70.9 million tons last month.  This is 500,000 tons (-1%) less than was produced in August and is only 1.3 million tons (2%) more than was reported last year for September 2017's production.  This marks the smallest year-on-year growth seen since October 2016.  Of note is that several major steel-producing nations saw year-on-year declines in production including Russia, Japan, and South Korea.  A host of smaller steel producing-nations also saw year-on-year declines in crude steel production including Canada, Ukraine, Pakistan, Qatar, the United Arabic Emirates, and several nations in the European Union.  Also of note is that in the United States, crude steel production totaled approximately 7.3 million tons.  This marks year-on-year growth of 8%, which marks the largest year-on-year growth in US steel production seen this year.  As we have continued to stress, the trade war is having no negative impact on US or Chinese steel production.  


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Recent News

Wednesday, 24 October 18
CHINESE POWER PLANT STOCKPILES AT HIGHEST LEVEL SINCE 2015 - JEFFREY LANDSBERG
Chinese power plant coal stockpiles have climbed to approximately 83.3 million tons as of the middle of this month, said Jeffrey Landsberg in his e ...


Tuesday, 23 October 18
WILL THE U.S. COAL DECLINE CONTINUE? - FORBES
What’s Trump’s new coal proposal?   Adding to its controversial plan to leverage federal authority to keep retiring baselo ...


Monday, 22 October 18
CONTINUED HIGH LNG PRICES; TRADE WAR IMPACT LIMITED - FITCH RATINGS
Fitch Ratings expects sustained high spot liquefied natural gas (LNG) and contract prices over the next two quarters on limited investment in LNG e ...


Monday, 22 October 18
WINTER OIL MARKET OUTLOOK - OPEC
The oil market in the winter season is generally characterized by demand for diesel, particularly in the northern hemisphere, leaving product marke ...


Saturday, 20 October 18
PANAMAX: THE PACIFIC SAW A LARGE VOLUME OF FIXING, WITH INDONESIA AGAIN THE DRIVING FORCE - THE BALTIC BRIEFING
Capesize A positive end to last week after a shaky start, with a Coaltrans taking participants out of the market early on and with rates slippi ...


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