DEMAND-- Strong Recovery in Manufacturing Activity

摘要

Metallurgical coal demand is underpinned by world crude steel production. For the 64 countries reporting to the World Steel Association world steel production was 161.9Mt in October, a 2.6% increase on September and a 7.1% increase compared to October 2019. In Asia, China produced 92.2Mt of crude steel in October (up 12% y-o-y), followed by India with 9.1Mt (up 1.3% y-o-y), Japan with 7.2Mt (down 11.6% y-o-y) South Korea with 5.8Mt (up by 2.1% y-o-y). Turning to Europe, Germany produced 3.4Mt (up 2.6% y-o-y), followed by Italy with 2.1Mt (down 5.4% y-o-y), France with 1.1Mt (down 6.8% y-o-y) Spain with 1.1Mt (down 8.8% y-o-y). Meanwhile, the US produced 6.1Mt of crude steel in October 2020, a decrease of 15.9% compared to October 2019.