China - Latest news GMK Center

Complicated international factors and weak domestic demand keep Chinese steel exports high

In April 2023, demand for steel from the real estate sector slowed down in the country

As of mid-May, steel stocks at the main steel enterprises of the PRC amounted to 16.26 million tons

In April, Chinese industry imported 8.39 million tons of coking coal

Duty rates remain at the level of 65.1%-73.7%

In the first January-April, the production of iron ore decreased by 8% y/y

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