steel

Livewire Exclusive

For many years China has had a single focus of delivering high GDP growth. John Lake from Paradice Investment Management has recently returned from a visit to China and says two important shifts are taking place. One is a focus on sustainability and the environment ahead of growth. The other... Show More

John Robertson

Amazingly often, analysts fail to distinguish between slowing growth and contraction. One could easily conclude from commentaries on the subject that China’s metal use has fallen. In reality, references to falling metal use often mean a decline in the rate of growth. Chinese zinc usage, for example, has been estimated... Show More

Livewire News

Mark Pervan Head of Commodity Research at ANZ has just returned from a China trip visiting steel mills and traders – “and the consistent view is that steel demand has peaked. Most concerns revolve around the weak real estate market…Slower than pledged infrastructure spending was also becoming a drag. Related... Show More

John Robertson

The International Monetary Fund once again cut back its near term global growth forecast. Not only was the forecast for 2015 reduced by 0.2 percentage points but the growth rate now estimated for the year is 0.3 percentage points lower than the 2014 outcome. Decelerating growth will normally imply the... Show More

QMG Insight

US steel tube and pipe manufacturing remains one of the weakest products across QMG's coverage universe: volumes (down -53% yoy), pricing (down -13% yoy) weak, costs increasing at +13% yoy, pressure on both revenue and margins....most highly correlated equity that we have mapped to this product group is Tenaris (North... Show More

John Robertson

Several indicators of raw material usage released in the last few days add to the evidence of a slowing cyclical adjustment in metal markets. The change in tempo is not surprising since metal markets usually need an acceleration in global growth to perform at their best. The World Steel Association... Show More

John Robertson

Chinese steel production in the first two months of 2015 is estimated by the World Steel Association to have fallen by 0.2% compared with the corresponding period in 2014. The implied transition to a less metal intensive economy was always to be expected despite the unrealistically contrary expectations held by... Show More

Nikko Asset Management Australia

Steel and Iron Ore Deflation to Continue. The steel industry and its underlying iron ore industry are witnessing excess production and deflationary forces that are similar to the global energy markets. Industrial rationalisations are likely in the coming quarters, involving important credit events in several countries, but the situation should... Show More

Livewire Exclusive

On the #1 risk facing Australian equity investors Tim Carleton from Auscap Asset Management says Chinese steel demand is his major concern. Circa 10% of domestic GDP comes from the export of the bulk commodities. This figure is substantially higher if you include support service industries. Primary and secondary property... Show More