Heavy equipment is poised for recovery

While rising mineral demand is filling the order books for heavy equipment suppliers, higher steel prices are less encouraging news for yellow goods manufacturers, reports Gregory DL Morris The fact that global demand is rising for commodity minerals - and hence the mining activity needed to satisfy...

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Bibliographic Details
Published inMetal Bulletin pp. 77 - 78
Main Author Morris, Gregory D L
Format Trade Publication Article
LanguageEnglish
Published London Fastmarkets 01.06.2018
Subjects
Commodities
Construction equipment
Heat treating
Machinery
Manufacturing
Price increases
Shipments
Steel industry
Steel production
United States > US
China
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Summary:While rising mineral demand is filling the order books for heavy equipment suppliers, higher steel prices are less encouraging news for yellow goods manufacturers, reports Gregory DL Morris The fact that global demand is rising for commodity minerals - and hence the mining activity needed to satisfy it-is certainly a tonic to the makers ofheavy equipment such as construction, mining and other machinery. Given that last year's global crude steel production was 1.69 billion metric tons, that means about 270.56 million metric tons of steel went into heavy equipment manufacture in 2017. The segment is a little smaller in the United States: 10% of domestic steel shipments go into the category machinery and equipment there, according to Timothy Gill, chiefeconomist of the American Iron & Steel Institute. Material developments The types and grades ofsteel generally used in heavy equipment often include small additions ofboron to increase toughness and "hardenability," said David Anderson, senior director oflong products at the Steel Market Development Institute.
ISSN:0026-0533