New Report Preview

Our Advance/Decliner Index stopped a four week slide, but remained weak, rising from 27% to 31% (any reading below 50 meansmore price cuts were reported than increases).

The nominal increase was driven by our Ex-China Index rising from 35% to 38% as AK Steel and JFE Steel announced price hikes in the US and Japan, partially offset by weaker steel pricing in the MENA region and East Asia.

Our China Index remained at zero for the second straight week, the first time this has happened since last October, as record Chinese steel production combined with declining spot iron ore prices are hurting pricing sentiment and keeping buyers on the sidelines.  Chinese steelmakers have continued to reduce steel prices this week, despite Beijing’s reduction of the reserve requirement ratio for banks over the weekend.

Our full report provides further thoughts about global steel pricing trends and our outlook as well as implications for steel equities.

For a free trial subscription, please contact us.