STEEL/IRON ORE

摘要

Global steel production and trade was on the agenda at the recent G20 conference in Hangzhou, China, with a number of countries seeking to put pressure on the host to cut steel production and exports due to the perceived negative impact of Chinese steel on their own domestic industries. However, the summit did not lead to any tangible action on either front (although China has previously announced it intends to shutter 45 Mt of steel capacity this year) and, despite dropping to a six-month low in August, Chinese steel exports of 76.6 Mt in the first eight months of 2016 compared with 71.9 Mt over the same period in 2015.