China

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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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China to tighten steel output controls to achieve ultra-low emissions

The volume of steel consumption in the country has entered the peak zone

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Steel prices in China will remain constrained in the near term

The demand for metal products in the country will decrease due to the winter season

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Emissions in China’s steel industry increased by 5.9% y/y in January-November

Emissions of sulfur dioxide per ton of steel were 0.22 kg/t, smoke and dust – 0.26 kg/t, nitrogen oxide – 0.43 kg/t

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Growth of steel exports from China may provoke new trade disputes

In 2023, Chinese steelmakers will export about 90 million tons of steel

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China’s steel demand to fall by 1.7% in 2024

In the current year, this indicator will decrease by 3.3% on an annual basis

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China increased iron ore production by 7.1% y/y in January-November

In November, this indicator increased by 6.6% year-on-year and fell by 1.1% m/m

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China reduced investments in real estate by 9.4% y/y in January-November

Volumes of new construction for 11 months fell by 21.2% y/y

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China reduced steel production by 3.8% m/m in November

Steel production in the country has been falling for the fifth month in a row

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Global coking coal prices remain relatively stable in December

Currently, quotations have lost momentum for growth, logistical problems may become the impetus for growth

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China to accelerate decommissioning of obsolete steel capacities

The country has published an action plan for sustainable improvement of air quality

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