The ferrous complex flamed out on September 23, 2021 as spot iron ore firmed but paper markets fell overnight amid rises in just about everything else:
In news, global steel output is now falling at a good clip:
World crude steel production for the 64 countries reporting to the World Steel Association (worldsteel) was 156.8 million tonnes (Mt) in August 2021, a 1.4% decrease compared to August 2020.
Production (Mt)Growth (% y-on-y)Crude steel productionWorldROWChinaWorld (%)ROW (%)China (%)Mar-20Apr-20May-20Jun-20Jul-20Aug-20Sep-20Oct-20Nov-20Dec-20Jan-21Feb-21Mar-21April-21May-21Jun-21Jul-21Aug-21050100150200-50-2502550worldsteel.orgApr-20● ROW (%): -29.7%