China

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The revenues of Chinese steelmakers for the 11 months of 2022 fell by 94.5% y/y

In the sector of mining and beneficiation of ferrous metals, profits decreased by 27.6% y/y

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China increased coking coal imports by 21.5% in January-November 2022

In November 2022, supplies of coking coal to the country decreased by 25.96% y/y

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Steel prices in China in 2023 will depend on the level of demand

In January-November 2022, the volume of steel production in the country fell by 1.4% y/y

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World scrap prices are rising again after a week of stabilization

In the week of December 12-19, 2022, scrap quotations in Turkiye increased by $5/t – to $382-388/t

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China’s new state agency will become a powerful buyer of iron ore

CMRG consolidates raw material purchases of about 20 of the largest Chinese steel producers

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China reduced steel production by 1.4% y/y in January-November 2022

During this period, the production of steel products fell by 0.7% y/y, and pig iron – by 0.4% y/y

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The supply of iron ore on the global market may decrease at the beginning of 2023

Prices continue to be driven by positive market sentiment and demand expectations in China

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World scrap prices remained at the level of the previous week – $383/t

In the week of December 5-12, 2022, scrap quotations in Turkiye remained at $383/t

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US and EU climate tariffs could hit China and other markets

In 2021, Chinese steelmakers exported more than 3 million tons of steel to the EU

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European steelmakers expect an increase in demand for HRC in early 2023

On the Asian and American markets, prices for hot-rolled coils increased

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China’s electro steel industry is under pressure from rising scrap prices

The seasonal increase in prices for scrap metal does not correspond to the state of the steel market, reducing the margins of steel mills

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Prices for coking coal at the beginning of December slightly increased – $250/t

Quotations of coking coal for the week of November 28 – December 5 in Australia increased by 1.2%, and in China – remained at the same level

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