China - Latest news GMK Center

An increase in exports may occur amid a decrease in demand for steel in the domestic market

Unfavorable weather slowed down work at a number of construction sites

In January-May, iron ore production increased by 6.5% y/y

The European market is under pressure from import proposals, steel producers in China are waiting for further steps from the government

Since the beginning of the year, the indicator of industrial production in the steel sector has increased by 5% y/y

In May, Chinese steelmakers reduced their steel output by 7.3% y/y

Beijing is likely to try to reduce economic dependence on the sector

A strategic plan for the use of local raw materials was launched in 2022

Tariffs on Chinese hot-rolled coil will remain in place for at least another 5 years

Annual figures will be strong due to low comparative base

In May, Chinese steelmakers increased the import of iron ore by 6.3% y/y

In May, Chinese steel companies shipped 5.3% more steel abroad than in April