China

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China’s overcapacity problem returns

There will most likely no longer be an order from the Chinese authorities to reduce production, but steel mills are voluntarily reducing output

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Rising iron ore stocks at Chinese ports could correct prices

The pace of work of plants may encourage them to replenish raw material stocks

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Steel production in China will decrease moderately in Q4 – CISA

Mainly this will happen through production control and energy saving measures

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Rolled steel producers in China’s Tangshan are limiting production

There were no official reports on control measures

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Asian steel market will come under pressure in the fourth quarter – forecast

Limited support for the market will be provided by increased demand in India after the monsoon season

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China increased coking coal imports to a record level in September

During the month, Chinese enterprises imported 10.82 million tons of coking coal

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China’s domain capacity utilization continues to fall in October

The country's enterprises also reduced their consumption of imported iron ore

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China increased iron ore production by 6.1% y/y in January-September

In September, this indicator decreased by 0.9% y/y and by 2.3% m/m

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China reduced steel production by 5% m/m in September

Compared to September 2022, steel production in the country fell by 5.6%

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China reduced iron ore imports by 4.9% m/m in September

For 9 months, the volume of raw material imports increased by 6.7% y/y

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China increased exports of steel products by 31.8% y/y in January-September

In September, Chinese steel companies shipped 2.6% less steel abroad than in August

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China is concerned about a possible EU anti-subsidy investigation

The country's commerce ministry believes it will disrupt global supply chains

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