Welcome to ISSB - Iron and Steel Statistics Bureau

Last Updated : 14 May 2008

Need information on exports & imports? Why not see if we can help? Phone ISSB on +44 (0) 20 7343 3916 or phil.hunt@issb.co.uk for further information.

HEADLINES

Record production in 2007 : Full year production tops 1,343 million tonnes up 7.5% on 2006 and 73% on 1998. Asia accounts for 56%, with China alone at 36% of the global total. Q1 2008 sees new quarterly record of 340 million tonnes.

Chinese exports : Tax changes bite as exports fall away. Full year 2007 exports of 65 million tonnes (+33%), imports 17 million tonnes (-9%), trade surplus 48 million tonnes (+18 million tonnes).

EU27 : External 2007 deficit up 123% to 16.3 million tonnes.  Imports up 23% and exports unchanged on 2006. Quarter 4 shows rising exports and falling imports, lowest deficit for 7 quarters.

The World's Top Trading Countries

Exporters
Having jumped from 5th to largest exporter in 2006, China recorded a further 33% growth in exports in 2007 to 65.2 million tonnes. This increase came despite exports falling every month from a peak in April 2007 to 7.6 million tonnes to a 19 month low in November 2007 of 3.9 million tonnes as changes to export rebates and taxes reduced export levels. The world's 2nd largest exporter, Japan, saw exports rise 5% to 35.8 million tonnes. EU27 total exports remained largely unchanged at 32 million tonnes with falls in shipments to the Americas and the Middle East being offset by increases elsewhere, particularly Non-EU Europe, the CIS and Africa. Elsewhere the tonnage exported by both Russia and Ukraine fell. This coincided with an increase in imports by both countries reflecting strong domestic demand.

Importers
EU27 imports surged 25% in 2007 to over 49 million tonnes. Meanwhile US imports fell 27% to 29.5 million tonnes on the back of a slowdown in the US economy. Chinese imports continued to fall, down 9% to 16.9 million tonnes. In conjunction with their escalating exports this took the Chinese trade surplus in steel to over 48 million tonnes, an increase of 18 million tonnes in 2007 and a swing of 83 million tonnes since their peak trade deficit of 35 million tonnes in 2003. Exports to the Middle East were particularly strong in 2007 increasing 35% to 35 million tonnes, and led by shipments to Iran, up 60% to 12 million tonnes, and UAE, up 36% to 9 million tonnes. The dominant origins were China, up 200% to 8.5 million tonnes, Russia up 60% to 5.7 million tonnes and Ukraine up 21% to 5.0 million tonnes.

The Race to Consolidate

What next in the race to consolidate?

In 2007 the top 15 steel producers accounted for over one-third of world production - 10 years ago the top 15 made just over a quarter of world production. The Arcelor-Mittal merger formed a global giant accounting for 118 million tonnes or just under 10% of world production. The merged Tata-Corus will become the world's 5th largest steelmaker, although the ongoing growth of Baosteel has now moved it to 5th, ahead of Tata-Corus, with US Steel in 7th following their acquisition of Stelco.
Click on Steel News for latest background on steelmaking consolidation.

Chinese Exports Set New Record Despite Slowdown

Chinese steel exports in 2007 reached 65.2 million tonnes, up 33% on 2006's 49.2 million tonnes. Imports fell 9%, from 18.6 to 16.9 million tonnes to leave China with a steel surplus of 48.3 million tonnes (US$ 22.5 billion). China recorded its peak steel trade deficit in 2003 when imports were greater than exports by 35.4 million tonnes (US$ 18.3 billion). The 4 year turnaround is a remarkable 83.7 million tonnes (US$ 40.9 billion). The 2007 level of exports was reached despite exports falling for 7 consecutive months after peaking in April 2007, as a raft of export rebate cuts and export tax increases took effect. Exports in Quarter 4 2007 were the lowest since Quarter 2 2006, further tax increases came into effect from January 2008.

Global Steel Price Indicators

Similar price indicators are available from ISSB
      .... for other products
           .... and other markets
                .... and in other currencies.

Main Regional Steel Trade Flows

International Steel Trade

Disclaimer : While ISSB Limited tries to ensure that the information contained on this site is accurate and correct, ISSB Limited accepts no responsibility for and excludes all of its liability to the maximum extent permitted by applicable law for any and/or all loss or damage whatsoever or howsoever caused from use of the information contained in or on this site. Your agreement to this condition is implicit by your use of this website / subscription service.

Username or email
Password
Save my password