China

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China reduced iron ore production by 13.1% m/m in April

In the first January-April, the production of iron ore decreased by 8% y/y

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Chinese steelmakers seek to speed up review of imported scrap standards

Domestic shortage of scrap in the country holds back the expansion of steel production in EAF

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Industrial production in China increased by 5.6% y/y in April

The growth rate of the indicator was 1.7 percentage points higher than in March

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China increased steel production by 4.1% y/y in January-April

Chinese steelmakers increased steel output by 1.5% y/y in April

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World prices for hot-rolled coils are falling under the pressure of low demand

Global rolled steel trade is slowing due to uncertainty in the Chinese market

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China’s electric arc capacity utilization drops to 3-month low

The utilization rate of electric arc furnaces by Chinese steelmakers as of May 4, 2023, was 50.42%

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China increased iron ore imports by 5.1% y/y in April

In January-April, Chinese steelmakers increased imports of iron ore by 8.6% y/y

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China’s first-quarter steel output growth outpaced demand – CISA

Visible steel consumption in the country in the January-March increased by 1.9% y/y

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Baosteel predicts a slight decline in China’s steel production in 2023

In the first quarter, the company lowered its net profit due to weak demand

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China’s PMI fell below 50 for the first time in 4 months in April

The reduction in the production index came as a surprise after the increase in the index in the first quarter

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CISA urges China’s steelmakers to curb production

The country's steel producers have faced weaker demand and rising costs

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Steel consumption in China in 2023 will amount to 960 million tons – forecast

Excess steelmaking capacity remains a problem for the country

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