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BMTI—daily and independent—and its research experts supply a high quality information service for the international dry bulk shipping industry including DAILY FIXTURE REPORTS, SHORT SEA REPORTS, MARKET REPORTS and special RESEARCH STUDIES.
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- BMTI Dry Bulk Commodity Overview (12 Nov 2019)
Uncertainty looms in the European steel outlook, according to EU steel association EUROFER. A present “downslide” in the EU manufacturing sector is unlikely to bottom out soon, association director Axel Eggert said in a recent statement, noting “escalating trade disputes” between the United States and several of its main trading partners as well as continuing uncertainty about Brexit, both major factors that could continue to have a dampening impact on the EU steel industry. EU steel consumption declined by 7.7% YoY in the second quarter of the year after falling by 1.6% in the first quarter. A combination of weakened exports and lower investment has taken a toll on steel use in the European Union, putting consumption at 39.3 Mt in Q2. The stock cycle, says EUROFER, turned negative in the quarter, contrary to the seasonal pattern, worsening an already negative trend in final steel use. The downturn in steel demand drove a 4% YoY fall in domestic deliveries in the EU in Q2 after a decline of 3% in Q1. A low-level stabilization in 2020, however, is seen, says Eggert, with an expected growth rate in consumption of 1.4% due to modest re-stocking.
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