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China - Latest news GMK Center

Photo – Iron ore prices rose amid cautious optimism in the market
Iron ore prices rose amid cautious optimism in the market

Chinese steel mills buy raw materials as needed, their demand remains restrained

Photo – Curtailing steel production could reduce China’s scrap consumption
Curtailing steel production could reduce China’s scrap consumption

This trend will affect the eastern and central regions of the country the most

Photo – Asian producers have replaced the supply of long products from Russia to the EU
Asian producers have replaced the supply of long products from Russia to the EU

China, Türkiye, South Korea and India have become the beneficiaries of sanctions against Russian long products

Photo – Steel production in China will continue to grow in August – forecast
Steel production in China will continue to grow in August – forecast

The market is worried about the uncertainty with production restrictions

Photo – China increased steel production by 11.5% y/y in July
China increased steel production by 11.5% y/y in July

Compared to June, steel production decreased by 0.34%.

Photo – China’s steel processing plants are ordered to cut production
China’s steel processing plants are ordered to cut production

A large state-owned factory in Shandong province received a verbal order

Photo – Iron ore prices fluctuate amid uncertainty in China
Iron ore prices fluctuate amid uncertainty in China

The market is concerned about the state of the real estate sector in the country

Photo – China can bring steel to its carbon market by 2025
China can bring steel to its carbon market by 2025

Currently, the country is discussing the structure of emissions reporting

Photo – China reduced iron ore imports by 2.1 m/m in July
China reduced iron ore imports by 2.1 m/m in July

For seven months, the volume of raw material imports increased by 6.9% y/y

Photo – China’s steel market remains under pressure due to stockpiles
China’s steel market remains under pressure due to stockpiles

Strong production and weak demand remain in the country

Photo – CISA proposes to abolish overnight steel futures trading
CISA proposes to abolish overnight steel futures trading

The proposal is designed to improve the market price formation mechanism

Photo – China’s scrap shortage is expected to increase in August
China’s scrap shortage is expected to increase in August

The demand for scrap in August will remain at the level of more than 13 million tons

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