Lower European iron and steel output hits demand for pellets, raw materials
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Update time : 2023-01-10 18:12:13
Weaker iron and steel production in the EU have led to reduced demand for raw materials in the fourth quarter of 2022 and early 2023, particularly for high-grade iron ore and pellets, while coking coal demand was supported by strong energy prices through 2022 and trade restrictions on Russian coal, according to an analysis by S&P Global Commodity Insights Jan. 9.
A contraction in hot metal, or pig iron, production rates at major integrated steel works in the EU, the UK, the Balkans and Turkey has cut into demand for iron ore pellets and pulverized coal injection, or PCI, rates, according to market sources.
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