China

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Baosteel Zhanjiang launches DRI plant with a capacity of 1 million tons per year

The company became the second in China to operate on Energiron DRI technology

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China increased coking coal imports by 60.6% y/y in 2023

In December, this indicator increased by 77.3% year-on-year

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Chinese steelmakers can maintain high work rates during the New Year holidays

This will lead to sustained demand for iron ore ahead of the holidays

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Turkiye exhausts part of its import quotas for steel products to the EU for the first quarter

Quotas for some items have also already been chosen by China and India

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China’s GDP grew by 5.2% in 2023

This figure is higher than the target set by Beijing for last year

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China produced 1.019 billion tons of steel in 2023

The indicator slightly increased compared to 2022 – by 0.6%, ending a two-year downward trend

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China exported 90.3 million tons of steel products in 2023

Shipments of products abroad increased by 36.2% and reached a maximum since 2016

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China increased iron ore imports by 11% y/y in December

In 2023, the volume of raw material imports increased by 6.6% y/y

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European CBAM could radically change trade flows – FT

The start of the implementation of the mechanism has already put China in an awkward position

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China’s manufacturing PMI fell to a six-month low in December

The decline was unexpected, analysts on average predicted a rise to 49.5 points

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China’s blast furnace capacity fell to a 15-month low

Steel processing plants continued to reduce production against the background of a decrease in market activity

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Steel exports from China will face increased protection measures in 2024

In 2023, foreign supplies supported domestic steel prices

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