Commodity Market Report
Steel Market Service - Q4 2021 Outlook to 2035
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Report summary
After a robust start, Chinese demand faltered in H2 resulting in an overall decline for 2021 - causing a downward revision to our 2021 forecast. Advanced economies and India cushioned the blow to the global demand and is estimated to grow at 2% in 2021. Crude steel production has also been revised down as China is set to overachieve their zero production growth target. At technology level, BOF continues to remain dominant. Going forward, steelmakers' reliance on blast furnaces has to reduce. Advanced economies must step up as emerging economies like India and SEA will be slow to adopt green initiatives. Read further in our long-term outlook to get our views on: 1) How will the declining Chinese demand and production impact the global demand-supply landscape? 2) How are advanced economies placed to decarbonise? 3) Where are the prices headed? The steel market long-term outlook provides demand-supply analysis and price forecasts out to 2035 and latest dataset upto 2050.
Table of contents
- Demand outlook remains subdued
- Supply to follow in footsteps of demand
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