China - Latest news GMK Center

Domestic shortage of scrap in the country holds back the expansion of steel production in EAF

The growth rate of the indicator was 1.7 percentage points higher than in March

Chinese steelmakers increased steel output by 1.5% y/y in April

Global rolled steel trade is slowing due to uncertainty in the Chinese market

The utilization rate of electric arc furnaces by Chinese steelmakers as of May 4, 2023, was 50.42%

In January-April, Chinese steelmakers increased imports of iron ore by 8.6% y/y

Visible steel consumption in the country in the January-March increased by 1.9% y/y

In the first quarter, the company lowered its net profit due to weak demand

The reduction in the production index came as a surprise after the increase in the index in the first quarter

The country's steel producers have faced weaker demand and rising costs

Excess steelmaking capacity remains a problem for the country

Quotations of coking coal for the week of April 11-18, 2023, in Australia decreased by 7.1%, in China – by 7.4%