China

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China reduced iron ore imports by 2.1% y/y in January-November 2022

In November 2022, the iron ore import decreased by 5.8% year-on-year and by 4.1% more compared to the previous month

US and EU consider new climate tariffs on Chinese steel — Bloomberg

China accounts for more than 60% of world steel production

Prices on the world rebar market remain unstable

European producers are trying to push the market, and export prices have increased in Turkiye

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It will take decades to produce green steel in Asia — BHP

About 72% of steelmaking facilities under construction in the world are blast furnaces

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Steel prices in China will be pressured by weak demand until the end of 2022

Quotations of steel products are likely to fall by the end of the year despite the government's efforts to support the industry

China’s weak economy threatens the stability of prices in the steel market in 2023

The demand for steel in China is one of the main factors influencing the prices of steel products in the world

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Recovery in global steel prices keeps weak demand in Asia

The Chinese market will remain weak until the end of the first quarter of 2023

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China cut iron ore imports from Brazil and Australia in October 2022

Production restrictions during the winter season may further affect import volumes

China to increase the consolidation of the steel industry

Due to this, the sector intends to increase control over the prices of raw materials and strengthen the decarbonization of industry

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Prices for coking coal have decreased at the beginning of November

Quotations of coking coal for the week of November 4-11, 2022 on the Australian market fell by 11%, and on the Chinese market – by 0.7%

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The decline in steel production in China will continue until the end of 2022

Weak demand from the real estate and construction sectors will continue to put pressure on prices

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The rise in iron ore prices in China is driven by market sentiment

The volume of iron ore imports this year will be lower than in 2021

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