Steel

The most used industrial material, traded as rebar, coil, and scrap with China at the center.

Overview

World output runs near 1.9 billion tonnes, China half of it, and derivatives follow rebar and hot rolled coil on Chinese exchanges, iron ore and coking coal in Singapore, and US hot rolled coil futures on the CME. Electric arc mills running scrap compete with blast furnace routes running iron ore and coal, and green steel premiums are emerging on hydrogen direct reduction pilots. Auto, construction, machinery, and pipe take the demand, and Chinese exports in strong years exceed 100 million tonnes, setting world prices and drawing trade defenses everywhere. Stainless steel runs its own nickel and chrome driven market.