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China - Latest news GMK Center

Photo – Global overcapacity poses a threat to the U.S. steel industry
Global overcapacity poses a threat to the U.S. steel industry

U.S. industry associations are concerned about the negative impact of decisions made by China and Brazil

Photo – Baosteel produced 13.2 million tons of steel in Q1
Baosteel produced 13.2 million tons of steel in Q1

The company's net profit for the same period fell by 8.6% y/y

Photo – Prices for billets rose by $10–15 per ton in regional markets in April
Prices for billets rose by $10–15 per ton in regional markets in April

The market stabilized following a sharp rise in prices in certain segments in March

Photo – Global prices for coking coal remain stable at the end of April
Global prices for coking coal remain stable at the end of April

Market sentiment depends on how the conflict in the Middle East unfolds

Photo – China has released BHP’s iron ore stockpiles at the port
China has released BHP’s iron ore stockpiles at the port

Companies are required to report transactions involving raw materials to the CMRG

Photo – China’s iron ore production fell by 1.2% in Q1
China’s iron ore production fell by 1.2% in Q1

In January–March, production totaled 241.8 million tons

Photo – Emissions from China’s steel industry fell by 2.7% y/y in March
Emissions from China’s steel industry fell by 2.7% y/y in March

Energy consumption by companies in the sector fell by 4% y/y, while the share of self-generated power rose to 65%

Photo – BHP has signed an agreement with a Chinese state-owned buyer for iron ore supplies
BHP has signed an agreement with a Chinese state-owned buyer for iron ore supplies

The details of the agreements have not been disclosed, so it is difficult for the market to assess their scope at this time

Photo – Real estate investment in China fell by 11.2% in Q1
Real estate investment in China fell by 11.2% in Q1

The decline in construction has slowed, but demand for steel remains under pressure due to a weak market

Photo – China is stepping up efforts to stabilize the steel market
China is stepping up efforts to stabilize the steel market

The imbalance between ample supply and weak demand for steel continues to grow

Photo – Steel production in China fell by 4.6% y/y in Q1
Steel production in China fell by 4.6% y/y in Q1

Rising costs and weak demand have limited production, and March was the worst month for the industry since 2020

Photo – Chinese steelmakers are coordinating their efforts in response to the European CBAM
Chinese steelmakers are coordinating their efforts in response to the European CBAM

Specifically, this involves adjusting export strategies

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