China - Latest news GMK Center

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

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