China

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World prices for coking coal remain volatile

Quotations in the Australian market rose on the background of the rainy season, while the Chinese market fell on the background of a weak steel market

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Global rebar prices are falling amid low demand in the construction sector

Quotations of rebar in Turkiye last week fell by 3.6%, in Italy – by 5.5%, in China – by 2.6%

China reduced iron ore imports by 2.3% y/y in January-September 2022

In September, the import of iron ore increased by 4.3% year-on-year and increased by 3.6% compared to the previous month

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China reduced steel production by 3.4% y/y in January-September 2022

Production of finished steel during this period fell by 2.2% y/y, and pig iron – by 2.5% y/y

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An increase in supply in the fourth quarter of 2022 will put pressure on iron ore market

A slowdown in demand for iron ore was observed in the third quarter of 2022

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Global steel demand to decline by 2.3% in 2022 — WorldSteel

Growth by 1% – to 1.814 billion tons is expected in 2023

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Iron ore demand in China did not increase during the peak construction season

Analysts believe that steel prices will be limited by the end of the year

Steel imports from Russia negatively affected prices in China

In September 2022, China imported 895,000 tons of steel

Coking coal imports to China increased by 25.5% y/y in January-August 2022

In August 2022, imports increased by 36.8% year-on-year and by 4.7% compared to the previous month

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China to increase exports of value-added steel products – CISA

The country's steelmakers are called to promote investment and development of foreign steel projects

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Rio Tinto and China Baowu will create a joint venture for iron ore mining in Australia

The cost of the project will be $2 billion, the agreement must be approved by the governments of Australia and China

Government stimulus to the Chinese economy could revive the steel market

Experts expect steel production in China to rise in September 2022, supporting iron ore prices

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