Global Steel Demand Continues to Show Resilience

The World Steel Association (worldsteel) released its October 2018 Short Range Outlook (SRO). worldsteel projects global steel demand will reach 1,657.9 Mt in 2018, an increase of 3.9%* (please see *note below) over 2017. In 2019, it is forecast that global steel demand will grow by 1.4% to reach 1,681.2 Mt. Commenting on the outlook,
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The slowdown in Australian thermal coal trade to China is resulting in shipments of off-specification coal traveling longer distances to Europe and even Africa, according to an analysis of shipping data from cFlow, Platts trade flow software. “What is happening in China is having an impact further west,” a market source said. “There is some
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A gloomier world economic outlook and rising trade tensions have forced Drewry to downgrade its forecast for container demand over the next five years, according to the global shipping consultancy’s latest edition of the Container Forecaster. Drewry’s long-term supply and demand prognosis for carriers has deteriorated since the last report. Previously, the company’s global supply-demand
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China’s commodity imports may get a shot in the arm from Beijing’s decision to ease credit conditions in the world’s second-largest economy, but it may not be as big a boost as followed prior monetary loosening. The People’s Bank of China on Sunday announced a steep 100 basis point cut in the level of cash
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Freight rates for VLCCs making long-haul voyages east out of the US Gulf Coast and Caribbean continued to soar Monday, jumping $1 million in just two trading sessions as tonnage availability continued to wane, with an increased number of Asian buyers looking to cover cheaper US crude cargoes. “All of the Japanese and Korean charterers
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Panamax dry vessel rates have risen 7.5% over the past week, as tight domestic Chinese coal supply spurs import demand and Indian buyers also look to replenish stocks, participants said on Wednesday. The Baltic Panamax Index (BPI), which reflects the 60,000-80,000 deadweight tonne segment, was assessed last at 1,639 points, only marginally below 28 August’s
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Healthy economic growth will likely continue driving Asian oil and fuel demand growth in the coming decades, but the strong uptrend in international crude prices this year and the recent sharp depreciation in emerging market Asian currencies could hit regional consumer confidence in the short term, industry executives and market sources said Tuesday. Non-OECD and
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China and India’s LPG demand has slowed compared to the past few years, according to ESAI Energy’s newly published Global NGL Outlook. The two markets have been the locomotives of global demand growth, accounting for a combined 190,000 b/d increase in demand last year. This year, however, demand will grow only a little more than
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Global energy demand is expected to grow by 33 percent to 2040, the Secretary General of the Organization of the Petroleum Exporting Countries, Mohammad Barkindo, said during an event in Madrid on Tuesday. Barkindo was speaking at an event organised by the Spanish oil and gas company Cepsa. Oil would continue to have a predominant
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With European companies abandoning Iran in the face of growing U.S. pressure, European politicians backing Iran are counting on oil demand from China, India and Turkey to keep the 2015 nuclear deal alive. Since the U.S. withdrawal from the nuclear deal in May, Iran has threatened to resume its nuclear program if it loses economic
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