Metals and Steel Industry Trends 2023

市場監測

  • 澳大利亞,
  • 奧地利,
  • 比利時,
  • 巴西,
  • 加拿大,
  • 中國,
  • 捷克,
  • 丹麥,
  • 法國,
  • 德國,
  • 香港,
  • 匈牙利,
  • 印度,
  • 印尼,
  • 愛爾蘭,
  • 意大利,
  • 日本,
  • 馬來西亞,
  • 墨西哥,
  • 荷蘭,
  • 新西蘭,
  • 菲律賓,
  • 波蘭,
  • 葡萄牙,
  • 新加坡,
  • 斯洛伐克,
  • 韓國,
  • 西班牙,
  • 瑞典,
  • 瑞士,
  • 台灣,
  • 泰國,
  • 土耳其,
  • 阿拉伯聯合酋長國,
  • 美國,
  • 英國,
  • 越南
  • 鋼鐵,
  • 金屬

2023年11月09日

Global economic outlook, high energy prices and weak demand subdue metals markets

We expect global basic metals output to increase by 3.6% in 2023, helped by the reopening of the Chinese economy early this year and decreased energy prices.

However, in 2024 basic metals production is forecast to decrease to about 1%. A weaker global economic performance and tighter credit conditions will have a dampening effect on metals and steel demand and prices. Steel output is expected to grow less than 1% next year, as demand from Chinese construction and infrastructure – both critical factors for global steel demand and price development – remains subdued.

Energy prices remain high by historical levels, and we expect them to increase again towards the end of this year, although to a much lesser extent than last winter. Together with higher labour and material costs, this will affect businesses´ margins.

In the medium-term, metals and steel performance will be affected by the extent to which China is successful in pivoting the economy away from investment-led growth through capacity closures. Another factor is the extent to which carbon tariffs can support “greener” production. The emphasis on reducing carbon emissions could help prop up production in less profitable regions, such as Western Europe.

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