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Friday, 24 April 15
GLOBAL STEEL PRODUCTION OUTSIDE OF CHINA CONTINUES TO FARE VERY POORLY - JEFFREY LANDSBERG
Commodore LogoCOALspot.com: Data released this week showed that global crude steel production totaled approximately 138.05 million tons in March.  

What is still not receiving enough attention, however, is that global steel production outside of China continues to fare very poorly and is doing even worse than steel production in China, Commodore-research said in its latest note.  
 
Chinese crude steel production totaled 69.49 million tons last month, which marked a year-on-year decrease of just 750,000 tons (-1%).  However, global crude steel production excluding Chinese production totaled 68.56 million tons last month.  This marks a year-on-year decrease of 2.53 million tons (-4%).  
 
According to Jeffrey Landsberg of commodore-research, the world continues to focus on China's economic slowdown and changing steel market, and rightfully so -- but the poor situation taking place in the steel market outside of China is being missed my many.  

Global crude steel production outside of China has now decreased on a year-on-year basis during three of the last four months.  This is of course negative for iron ore consumption and seaborne iron ore trade, which greatly affects the capesize segment of the dry bulk market.  

commodore-research noted that, it also has very large ramifications for iron ore prices.  

Commodore Research & Consultancy has continued to monitor this vital ongoing 2015 development in great detail in its Weekly Dry Bulk Reports.  It is not just China where problems lie.  Steel production outside of China continues to fare very poorly and is doing even worse than Chinese steel production.  Nevertheless, this fact continues to be missed by many in the market, commodore-research concluded.


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