Steel price forecast for 2011

MEPS have just published their view of expected year 2011 steel price changes across Europe. After a 31% rise in the steel price index across 2010, the expectation is for a ‘double-digit’ percentage rise in EU steel prices in 2011.

For further information, see the MEPS report at http://www.meps.co.uk/keynote12-10.htm.

blogger@steelonthenet.com

World steel production forecast to 2014

Looking ahead to 2014, MEPS have just published a world steel production forecast.

 

Moving from world 2009 crude steel production of 1.23 billion metric tonnes, global crude steel output in 2010 is forecast at almost 1.4 billion tonnes. Worldwide crude steel output in 2014 is anticipated by MEPS to be over 1.6 billion tonnes.

 

For further information, visit MEPS at http://www.meps.co.uk/global-production2014.htm

 

blogger@steelonthenet.com

 

World steel production forecast for 2009

Steel industry consultants MEPS have just published their forecast for 2009 world steel production. The output forecast for crude steel is 1165 million metric tonnes. This is a 12% drop on global 2008 steelmaking production volumes. For full article, see http://www.meps.co.uk/article-key-out-q2-09.htm

blogger@steelonthenet.com

Steel prices at bottom of cycle ?

Flat product prices appear to be at or close to the bottom of the cycle. This is the latest view from Sheffield-based steel consultants MEPS. Recent price forecasts appear to have changed very little since April 2009. Whilst there is still some negative pressure on transaction values due to subdued demand and bloated inventories - and transaction values may slip a little further in June 2009 - steel prices should stabilise during the third quarter of 2009. Steel product prices are then forecast to start rising in the final quarter of this year, with further advances predicted early in 2010 as the world economic climate improves.

To read the full MEPS price report, visit http://www.worldsteelprices.com/news4.htm.

blogger@steelonthenet.com

World crude steel output forecast

MEPS have just published a medium term world crude steel production forecast. Please see table below. This shows year 2011 crude steel production at ~1.6 billion tonnes, which is some 28% up on 2006 world output. China alone accounts for 208 mt of this increase. The implication is that Chinese crude steel capacity is coming onstream at a rate close to one million tonnes a week ... Wow !

Crude Steel Production Forecast (millions tonnes)
Region	2006	2007	2011
W. Europe	235.1	242.3	263.0
Former USSR	119.8	125.3	153.0
NAFTA	131.5	133.3	135.5
South America	45.3	47.5	61.5
Africa/Middle East	34.0	34.9	49.0
China	422.1	492.5	630.0
Japan	116.2	119.7	122.0
Rest of Asia	136.3	145.8	177.0
Oceania	8.7	8.8	9.0
World	1249.2	1350.0	1600.0
Source: MEPS - Global Iron & Steel Production to 2011

For original MEPS report, visit http://www.meps.co.uk/global-production2011.htm

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Chinese steel output to reach 1 billion tonnes by 2015

According to a recent Australian government forecast, Chinese steel production is expected to double in the next eight years from approx 480 million tonnes today to around 1 billion tonnes by 2015.

For original news report, visit http://www.iii.co.uk/news/?type=afxnews&articleid=6363799&action=article.

blogger@steelonthenet.com

Steel price forecast - European long products

Falling international scrap prices are expected to lead to a decline in transaction prices for EU long products in the coming months according to an assessment just published by MEPS.

Coupled with a slowdown in construction over the winter months, this trend is likely to lead to a sharp decline in rebar prices in Europe as the end of the year arrives. A price correction can then be expected in the beginning of 2008.

For original MEPS report, see http://www.meps.co.uk/medium-carbon-steel-price-forecast-eu6-07.htm.

blogger@steelonthenet.com