uploads///part  china production

Your Key Steel Events to Follow This Week


Dec. 4 2020, Updated 10:53 a.m. ET

Key events

In this article, we’ll look at some of the key data points that steel investors will be following this week. Since US steel prices are impacted by both domestic and international developments, we’ll also look at some of the international events that could interest US steel investors this week.

Article continues below advertisement

Chinese data

China’s October fixed asset investment, real estate investment, and industrial production data are all expected to be released on November 14.  Real estate and fixed asset investment sectors are the largest steel consumers in China, and the data could help provide insight into Chinese steel demand (CLF) (XME).

We’ll also get China’s October steel production data this week. Notably, China will be curtailing some of its polluting steel capacity in the winter months to address the country’s rising pollution levels. The country’s October steel production data will likely be closely followed by markets to see whether the cuts are reflected in production figures.

Domestic data

The MSCI (Metal Service Center Institute) is expected to release its October steel shipments and inventory data on November 15. It will be interesting to see how service centers are managing their inventories in the seasonally weak fourth quarter.

Meanwhile, we should remember that service centers act as bridges between steel consumers and buyers and are crucial distribution channels for steel companies like U.S. Steel (X), ArcelorMittal (MT), and Nucor (NUE). The 3Q17 earnings season for steel companies is almost over, and most steel companies have released their earnings.

You can visit Market Realist’s Steel page for post-earnings analysis of leading steel producers.


Latest Cleveland-Cliffs Inc News and Updates

    Market Realist Logo

    © Copyright 2022 Market Realist. Market Realist is a registered trademark. All Rights Reserved. People may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.