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The global steel industry is accustomed to challenging environments, but the past 18 months has been one of the most challenging periods ever - no less so for regional flat steel sectors and end-users. First an unprecedented halt in production, followed by phenomenal demand recovery, fueled by low inventories, extended mill lead times, and soaring prices. This trend has continued through 2021 with steel prices repeatedly hitting new record highs. Some industry experts forecast demand and prices to remain elevated for the next 2 years. While some even suggest we are at the start of a commodities super-cycle that could last even longer - underpinned by massive international stimulus in response to Covid-19.
Join our Kallanish Flat Steel Focus 2021 virtual conference on the 16th November to hear experts from across the sector discuss the following key topics and more:
The Kallanish virtual event platform is designed to support face-to-face networking, personalised agendas, downloadable contact lists, the ability to engage with speakers via live Q&As and polls, and the option to re-watch sessions on-demand soon after each session.
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All times shown below are Turkey Time, TRT (UTC +3). If you miss any sessions happening live you can watch them on-demand. Make sure you register for this event, so that you can take full advantage of the live sessions, networking and more.
The global steel industry is accustomed to challenging environments, but the past 18 months has been one of the most challenging periods ever - no less so for regional flat steel sectors and end-users. First an unprecedented halt in production, followed by phenomenal demand recovery, fueled by low inventories, extended mill lead times, and soaring prices. This trend has continued through 2021 with steel prices repeatedly hitting new record highs. Some industry experts forecast demand and prices to remain elevated for the next 2 years. While some even suggest we are at the start of a commodities super-cycle that could last even longer - underpinned by massive international stimulus in response to Covid-19. How does this scenario align with the longer-term steel sector trends of overcapacity, consolidation, and regional protectionism? Has global overcapacity restructuring and growing regional protectionism set a new equilibrium of high prices and short supply? Will new capacity additions around the world ease the supply tensions? How will the latest extension of European safeguard measures, and the US-EU 232 trade discussions impact trade flows, steel supply gaps, volumes, and price? What do producers, traders and steel end-users expect for the medium to longer term? Our panel of experts will offer their views on the challenges and opportunities facing the global coil markets. Our panel of experts will offer their views on the challenges and opportunities facing the global coil markets.
Soaring steel prices in first half 2021, have continued to climb but at slower rates, while some regions have record small declines in prices attributed to a summer lull and rising covid restrictions. Wide differences in coil prices exist between regions around the world, sustained by increasing trade barriers that have become a central theme of global steel markets in recent years. Production curbs in China have supported domestic steel prices and undermined iron ore and scrap prices. The resulting fall in raw material prices and strengthening of domestic Chinese steel prices is causing confusion in markets. This confusion is further exacerbated by wildly divergent rumours concerning an export tax on Chinese hot rolled coil. Will China implement HRC export taxes, if so when and at what rate? Furthermore, could the recent fall in Iron ore prices trigger a decline in steel prices elsewhere? Meanwhile, the ongoing global semiconductor shortage is forcing automakers around the world and particularly in USA to extend their buying throughout the year, driving record high prices in North America. While in Europe, will the realisation of delayed automotive production due to semiconductor shortages further exacerbate coil shortage already seen in the region? Today, steel demand in most regions outstrips supply. How will regional trade barriers and international stimulus support elevated prices? To what extent have flat steel buyers been able to absorb continuously increasing prices and reflect them in their own margins? Will the US be able to keep imports out with domestic prices so high? To what extent are European coil shortages and high prices being caused by mills’ happiness with the status quo and reluctance to make additional capacity available? As overcapacity is set to increase in some regions, there has been a steady decline across Europe, US and China, as consolidation continues. Some new capacity expansions are slated, but what impact will they have on overall supply trends and prices? How will the flat steel price dynamic play out in the months ahead as capacity, consolidation, trade barriers and regionalization continue to be central in today’s market? Our panel of experts will offer their views on the challenges and opportunities facing the global steel industry.
Market fundamentals have changed since the end of 2020. Supply, demand and price have been overshadowed by volumes, mill lead times and delayed deliveries. Steel demand is slated to remain strong for the next 2 years supported by a global economic recovery in the manufacturing sector. That said, how long can steel end-users continue to pay elevated steel prices? Can steel end-users pass this cost on to their customers, or will they reduce their steel purchases and cut manufacturing output? With order books throughout the supply chain filling quickly and lead times being extended, the situation for automotive, construction and white goods sectors reliant on just-in-time deliveries has been exacerbated by frequent delivery delays becoming the norm. However, the situation is not the same across all regions. How will this distortion affect the competitiveness of steel end-users in their home and export markets? To address these trends we bring together analysts, steel industry executives, and leading steel end-users to share updates and forecasts on market developments and end-user demand across Europe, Turkey CIS and India.
Making firm forecasts on the long-term future of steel amid the current unprecedented macro-economic environment is almost impossible. Nevertheless, many regional steelmakers across Europe, CIS and Turkey have announced ambitious plans to cut CO2 emissions by 2030 and beyond. Various technologies for steelmaking decarbonisation already exist or are coming online soon, including CDA (hydrogen and electricity-based steelmaking), CCS, and CCU. However, these technologies will result in higher production costs for steel. Is there sufficient end-user demand and appetite to pay higher prices for ‘green steel’? Is there policy support and regulatory framework in place to make the transition economical? What must be done to ensure a level playing field while a 2-tier supply chain exits? How close are Russian and European steel producers to securing economically viable supplies of green hydrogen for hydrogen steelmaking? Will the recent hike in carbon prices on the European Emissions Trading System drive steelmakers into making decarbonisation investments? How do Turkish and Russian steel producers view the impact of the proposed European carbon border adjustment mechanism (CBAM)? In this panel, industry experts will discuss these questions and more on the future of the green steel transition across the regions and the influences from global developments and sustainability challenges.
The programme was last updated on the 28th July 2021.
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