China - Latest news GMK Center

There will most likely no longer be an order from the Chinese authorities to reduce production, but steel mills are voluntarily reducing output

The pace of work of plants may encourage them to replenish raw material stocks

Mainly this will happen through production control and energy saving measures

There were no official reports on control measures

Limited support for the market will be provided by increased demand in India after the monsoon season

During the month, Chinese enterprises imported 10.82 million tons of coking coal

The country's enterprises also reduced their consumption of imported iron ore

In September, this indicator decreased by 0.9% y/y and by 2.3% m/m

Compared to September 2022, steel production in the country fell by 5.6%

For 9 months, the volume of raw material imports increased by 6.7% y/y

In September, Chinese steel companies shipped 2.6% less steel abroad than in August

The country's commerce ministry believes it will disrupt global supply chains