China

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Steel mills in China’s Yunnan province cut production

Plants are scrambling to avoid losses amid weak demand and rising costs

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China increased steel exports by 32.6% y/y in January-February

In two months, Chinese steelmakers shipped 15.9 million tons of metal products abroad

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China aims to increase the share of EAF in steel production to 20% by 2030

Seven government agencies made such a proposal

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Utilization of China’s blast furnace capacity declined amid maintenance

The indicator fell for the second week in a row after the previous long rise

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Construction activity in China to support iron ore demand

Most Chinese steel mills have adequate raw material inventory levels

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Emissions in China’s steel industry increased by 12.4% y/y in January

Emissions of sulfur dioxide per ton of steel were 0.19 kg/t, smoke and dust – 0.15 kg/t, nitrogen oxide – 0.30 kg/t

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Utilization of China’s domain capacity increases for the sixth week in a row

Chinese steelmakers generally did not shut down their blast furnaces during the New Year holidays

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Scrap usage in China’s steel industry lags behind expectations – Morgan Stanley

The country's goal of achieving a 15% share of steel production in the EAF by 2025 looks somewhat optimistic

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European CBAM will reduce China’s advantage in steel exports – Goldman Sachs

The introduction of the mechanism could have a serious impact on Chinese steel and aluminum producers

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China’s Baosteel has raised its March prices for hot rolled coils

The price has increased amid increased offers from competitors

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China’s steel industry made a profit of 56.5 billion yuan in 2023

The increase in the indicator was facilitated by the improvement in demand for steel and a low base of comparison

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Utilization of China’s domain capacity grows for the third week in a row

More and more factories are completing annual overhauls of blast furnaces

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