China - Latest news GMK Center

Tariffs on Chinese products were kept at the level of 29.2-54.9%

Chinese steel products are offered at deep discounts, which is a problem for local producers

Such forecasts are assumed by Linyuan I&S, Shandong I&S, Chongqing I&S, Xinjiang Bayi Steel and Ma'anshan I&S

Weaker demand from China's steel producers is expected in this period

In June, Chinese steel production increased by 0.4% y/y and 1.1% m/m. Factories are encouraged by rising product prices

In June, Chinese steelmakers increased the import of iron ore by 7.3% y/y

In this way, consumers will be protected, despite the damage to steel producers.

In June, Chinese steel companies shipped 10.1% less steel abroad than in May

In the second half of the year, the government is likely to introduce a policy of moderate control

There is a high level of utilization of blast furnace capacities in the country

Currently, the company's annual purchase of this raw material is 80 million tons

In January-May 2023, the country increased steel exports by 41% y/y