China’s latest economic data continues to paint a subdued picture for commodity and energy demand, while lower drilling counts in the US raise questions about the pace of future supply growth. S&P Global Platts editors shed light on these and other trends, including a Nordic wind power boom, US-Turkey steel trade, and more.
Posts tagged ‘steel’
 
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October 7, 2019 06:17 UTC 
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A new production record for Permian basin gas, and rising transport costs for crude oil into Asia, are top of S&P Global Platts editors’ picks this week. Plus: EU renewables output, Egypt’s return to abundant natural gas supply, a US power price spike, and the squeeze on European steel mill margins. |
 
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October 3, 2019 08:59 UTC
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China’s recent battle against waste imports into the country has proved a success, as August ferrous scrap imports fell to zero, a figure unseen for the past 20 years in the country, according to the latest customs figures. Since late December 2018, China has been slowly isolating itself from the global scrap market. The restrictions on ferrous scrap imports are part of a pushback against the country’s prior, unwanted, role as a dumping ground for global waste. |
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September 16, 2019 14:27 UTC
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Geopolitical risk and oil markets top this week’s pick of energy and commodities themes from S&P Global Platts editors. Plus, Ukraine’s role in European gas supply, steel scrap prices as a bellwether for economies, and a milestone approaches for US LNG exports. |
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September 13, 2019 11:09 UTC
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Ferrous scrap prices have crashed over the past five weeks, finally coming more in line with weakened steel prices, which have fallen by a larger magnitude since the middle of 2018. Using CFR Turkey scrap as a gauge, spot prices of HMS I/II 80:20 have fallen $136.5/mt from their peak in March 2018 as of September 12. Over the same period, rebar prices on an FOB Turkey basis have fallen by a larger $172.5/mt, S&P Global Platts data show. |
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September 12, 2019 08:41 UTC
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China’s supply-side reform agenda was launched by President Xi Jinping in late 2015 with a view to stripping out excess capacity that had built up in key industries during China’s emergence as an economic power. Industries targeted in a five-year plan presented in 2016 by the country’s top economic planner, the National Development and Reform Commission, included steel, coal, cement and aluminum. These sectors were deemed to have become too big, too polluting, and in some cases too dependent on export markets. |
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September 9, 2019 09:21 UTC
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Globalization of natural gas markets, OPEC’s struggle to balance oil supply and price, and platinum coming to the fore as an investment vehicle are all covered in this week’s selection of essential charts from S&P Global Platts editors. |
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September 3, 2019 10:52 UTC
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Global steel mill margins have shrunk in 2019, in turn pushing down iron ore and coke consumption and prices for coking coal. In 2018 Platts benchmark US hot rolled coil (HRC) spot prices exceeded $1000/mt delivered Midwest for the first time since 2008, and the sustained run in steel pricing and demand since 2016 delivered high profits for steel producers. |
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August 21, 2019 10:24 UTC
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The traditionally strong correlation between ferrous scrap and iron ore has been eroded by global trade upheavals and economic troubles in Turkey, the largest import market for steel scrap. Previously, the relationship between ferrous scrap and iron ore prices often meant price movement in one would lead to a corresponding price change in the other – with market participants trading on this correlation. |
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July 22, 2019 05:30 UTC
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S&P Global Platts editors’ pick of unfolding commodities trends. This week, tight US gasoline supply incentivizes imports, high-tech industries drive tin demand and Iranian oil exports hit new low. Plus impacts of Europe’s heatwave and China key economic data on energy and commodities. |