China - Latest news GMK Center

The increase in raw material imports contrasts with the weakness of steel production

During this period, the import of metal products decreased by 2.7% y/y

China's low-carbon steel standards are currently under investigation

The government's plan is to reduce these volumes by about 1% of the 2023 figure

Four of the seven largest steel regions recorded a decline in steel production

The sector recorded a loss of 22.22 billion yuan in 4 months

Every year China increases steel capacity while reducing apparent steel consumption

The procedure was initiated following a complaint filed by the European Association of Steel Pipe Manufacturers

The increase in production was mainly contributed by factories in Hebei province

In 2024, domestic production of iron ore concentrate is expected to increase by 5-10 million tons

Sentiment in the real estate market improved due to a number of steps taken by the state

The investigation will last up to 14 months, with the possible introduction of temporary duties after 7-8 months