ISSB maintains a detailed database of the imports and exports of steel and steelmaking raw materials for more than 60 major steelmaking nations, collectively accounting for 97% of global steel output. This high level of coverage also allows an accurate assessment of the trade flows for those countries for which we cannot obtain national trade data.
Global Crude Steel Production
Provisional crude steel production data for 2017 confirmed the surge in demand evident throughout the year. At 1.69 billion tonnes global apparent demand grew by over 5% and established a new record. Output progressively increased for three consecutive quarters, followed by a dip in quarter 4. It should be noted, however, that the level in quarter 4 was 4% higher than in quarter 4 2016. Chinese crude steel production continued to grow in 2017, at a rate of 5.7%, compared with an RoW rate of 4.8%.
Below we summarise World Steel Association crude steel production data.
Global Trade in Steel
Exporters China is now by far the largest global exporter of steel as a declining domestic market meant that steel makers within the country targeted markets further afield. Exports from the country nearly doubled to a staggering 88.6M tonnes, a remarkable increase of 30.8M tonnes in a year which is more than the combined annual production of Mexico and Canada. South Korea and Russia were the other countries to show a large amount of growth with Ukraine and Turkey suffering declines year on year.
The increasing demand for steel in the US was taken up by imports in 2014, increasing 38% year on year. Continued improvement in the economy of the EU led to imports into the region increasing by 13% with the other main global importer, South Korea, also seeing an increase when compared to 2013.
If you want to know more about steel exports or imports please either contact email@example.com or use our on-line Trade Enquiry System.
Global Trade in Steelmaking Raw Materials
Global Trade in Iron Ore
Iron ore exports continue to be dominated by Australia and Brazil and it is interesting to note that alongside the collapse of the price of iron ore, world exports have increased by 10% year on year, partly due to Chinese steelmakers finding it cheaper to import high grade ore from these countries than to rely on lower grade domestically produced ore.
Outside the top two exporters, India which used to be the third largest exporter of iron ore in the world, has dropped out of the top ten entirely as court action shut the industry in Goa for the last two years. Sierra Leone has started to become a major player in the iron ore scene in recent years, increasing from a standing start in 2011 to 19M tonnes in 2014.
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Global Trade in Scrap In contrast to the iron ore trade, total world exports of scrap declined moderately year on year with the largest two importers both showing falls when compared to 2013. There were some increases from various EU countries as the industry picked up slightly there with Italy, Spain and Belgium all showing rises. Chinese scrap imports fell considerably, however, and their place in the top 11 importers was taken by Vietnam.