China - Latest news GMK Center

Based on the results of five months, this indicator increased by 3.4% year-on-year

In May, the indicator increased by 9% y/y

The profits of steelmakers increased slightly thanks to the decrease in prices for raw materials

During the year, the indicator reached 24.5 billion tons, which is 582 million tons more than in 2022

Fujian has already announced a reduction in steel output by 3.5 million tons by 2024

Emissions of sulfur dioxide per ton of steel were 0.19 kg/t, solid particles – 0.2 kg/t, nitrogen oxide – 0.33 kg/t

Mills slightly increased their ore purchases from traders due to increased production needs

An increase in Chinese exports leads to losses in local markets and, as a result, to an increase in the number of trade restrictions

In May, the indicator decreased by 4.7% year-on-year

Last month's indicator did not meet analysts' expectations

Analysts expect a decrease in steel production in China in 2024 by 1.1% y/y

Market players expect China to slow its exports