Top 10 steel consumers

In this part of the series, we’ll look at the top ten steel consumers. The data are compiled by the World Steel Association based on 2016 apparent steel consumption (or ASC). Apparent steel consumption is simply the total steel production in a given economy, minus net steel exports. Net exports are exports minus imports. While real steel demand tells us about steel consumed by end users, apparent demand also takes into account changes in inventory.

Top 10 Steel Consumers: Where Does the United States Stand?

China

China was the largest steel consumer last year, with the mainland’s ASC at 681.0 million metric tons. The United States (SPY) (SPX-INDEX) was ranked second in terms of ASC. India’s ASC was 83.5 million last year, ranking it third. Japan and South Korea are ranked fourth and fifth, respectively, based on 2016 ASC.

Germany was ranked sixth, while Russia holds the sixth rank based on 2016 ASC. Turkey was the seventh-largest steel consumer. Notably, over the next few years, India is expected to surpass the United States to become the world’s second-largest steel consumer.

Analysis

There are some interesting observations in global steel production and consumption data. For instance, while the United States is the world’s second-largest steel consumer (CLF), the country ranks fourth in terms of steel production. Similarly, while Japan is the second-largest steel producer, it’s the fourth-largest steel consumer.

The anomaly could be explained with steel trade. US steel producers, including U.S. Steel Corporation (X), AK Steel (AKS), and Nucor (NUE), have long decried steel imports. In the next part, we’ll look at the top ten steel-importing countries.

Latest articles

Broadcom (AVGO) stock fell ~8.5% after markets closed yesterday following the semiconductor giant's fiscal 2019 second-quarter earnings release. It missed analysts' revenue estimate and cut its fiscal 2019 revenue guidance by $2 billion to $22.5 billion due to sluggishness in its semiconductor solutions business.

The SPDR Gold Shares ETF (GLD), which tracks physical gold prices, has underperformed the broader markets year-to-date, rising just 4.4% compared to the S&P 500’s (SPY) gain of 15.9% as of June 14. The sentiment for gold, however, has been turning around.

Safe havens such as Treasuries and gold were back in favor on June 14 as stocks fell due to rising tensions in the Middle East, concerns over growth, and the looming threat of the US-China trade war. The tech-heavy Nasdaq Composite Index fell 0.67% in the first hour of trading.

Lululemon (LULU) stock rose 2.1% on June 13 in reaction to better-than-expected first-quarter results and an upgraded outlook for fiscal 2019 overall. The company's first-quarter adjusted EPS grew 34.5% to $0.74 on revenue growth of 20.4% to $782.32 million. Analysts had expected EPS of $0.70 and revenue of $755.31 million. Here's why the outlook got an upgrade.

14 Jun

IEA Again Slashes Its Oil Demand Growth Estimate

WRITTEN BY Rabindra Samanta

As of 4:40 AM Eastern Time today, US crude oil active futures were at $51.83, ~4% below their closing level in the previous week. If US crude oil prices stay at those levels today, they'll mark their third week of decline in five weeks.

Amazon is discontinuing its Amazon Restaurants service, which has been delivering food for restaurants in parts of the United States. Amazon Restaurants launched in the United States in 2015 and entered the British market the following year. However, it met strong opposition in the British market.

172.31.59.107