China

Baowu Group produced 61.5 million tons of steel in the first half of the year

During the same period, the company's operating revenue amounted to $73.6 billion.

China has increased coking coal imports by 17% in six months

In June, the supply of raw materials to the country increased by 20.5%

Iron ore prices in China will fall to $70/t in the third quarter – Goldman Sachs

This forecast is based on the crisis in the Chinese real estate market

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China extends duties on electrical steel from Japan, South Korea and the EU

Anti-dumping duty rates vary from 37.3% to 46.3% for companies from different countries

China increased coal imports from Russia by 22% in June

Discounts on raw materials from Russian sellers attract Chinese consumers

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China reduced steel production by 6.5% in H1 2022

The production of finished steel fell by 4.6% in the first half of the year, and pig iron – by 4.7%

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Chinese steelmakers’ business expectations reached a minimum in June

No expectations for significant improvements in July too

With episodic lockdowns, demand for steel in China is falling

In May, steel consumption in the country decreased by 14%, while daily production increased during the month by 1-3%

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Iron ore prices in China have fallen to a 7-month low

During the last week, the value of iron ore on the Dalian Exchange decreased by 10.4%

Taiwanese steelmakers suspect Chinese traders of selling Russian steel

Thanks to Chinese sellers, cheap steel from Russia enters the Taiwanese market, negatively affecting the local market

In May, China increased steel production to its record level in 12 months

Overall, steel production fell by 8.7% in January-May due to coronavirus restrictions

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China to increase iron ore imports with centralized purchases – FT

The government wants to increase its influence on pricing and increase domestic production

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