China

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China increased coking coal imports by 77.6% y/y in January-May

In May, Chinese industry imported 6.72 million tons of coking coal

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China will continue to increase exports of rolled steel – Baosteel

An increase in exports may occur amid a decrease in demand for steel in the domestic market

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Weather conditions in China may adjust demand for steel and iron ore

Unfavorable weather slowed down work at a number of construction sites

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China increased iron ore production by 3.3% m/m in May

In January-May, iron ore production increased by 6.5% y/y

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Global hot-rolled coil prices are falling amid high competition in the markets

The European market is under pressure from import proposals, steel producers in China are waiting for further steps from the government

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Industrial production in China’s steel industry grew by 3.1% y/y in May

Since the beginning of the year, the indicator of industrial production in the steel sector has increased by 5% y/y

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China in January-May increased steel production by 1.6% y/y

In May, Chinese steelmakers reduced their steel output by 7.3% y/y

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China’s real estate sector is in a prolonged downturn – Goldman Sachs

Beijing is likely to try to reduce economic dependence on the sector

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China’s steelmakers seek to increase the use of domestic resources of iron ore

A strategic plan for the use of local raw materials was launched in 2022

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The EU has extended anti-dumping and countervailing duties on hot-rolled steel from China

Tariffs on Chinese hot-rolled coil will remain in place for at least another 5 years

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China’s Q2 GDP growth to be relatively strong – forecast

Annual figures will be strong due to low comparative base

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China increased iron ore imports by 7.7% y/y in January-May

In May, Chinese steelmakers increased the import of iron ore by 6.3% y/y

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