China - Latest news GMK Center

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%

In the first quarter, production remained at the level of the same period last year

Steel prices in the country may again reach high levels in November-December 2023

In March, Chinese steelmakers increased steel output by 6.9% y/y

Coking coal prices may be affected by weak demand from China

China is reinforcing this trend by trying to expand exports at reduced prices

The plan should be announced by the end of April 2023