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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

Steel plants announce equipment maintenance and limit shipments

The mechanism could help US companies bypass Chinese competitors in the European market

In October, industry indicators are likely to decline amid a slowdown in steel production

Several leading Chinese steel mills have delegated all urgent procurement to China Mineral Resources Group

The steel sector is aiming to peak carbon emissions by 2030

The situation will also be affected by China's demands to open new capacities and protective trade measures