China - Latest news GMK Center

The seasonal increase in prices for scrap metal does not correspond to the state of the steel market, reducing the margins of steel mills

Quotations of coking coal for the week of November 28 – December 5 in Australia increased by 1.2%, and in China – remained at the same level

In November 2022, the iron ore import decreased by 5.8% year-on-year and by 4.1% more compared to the previous month

China accounts for more than 60% of world steel production

European producers are trying to push the market, and export prices have increased in Turkiye

About 72% of steelmaking facilities under construction in the world are blast furnaces

Quotations of steel products are likely to fall by the end of the year despite the government's efforts to support the industry

The demand for steel in China is one of the main factors influencing the prices of steel products in the world

The Chinese market will remain weak until the end of the first quarter of 2023

Production restrictions during the winter season may further affect import volumes

Due to this, the sector intends to increase control over the prices of raw materials and strengthen the decarbonization of industry

Quotations of coking coal for the week of November 4-11, 2022 on the Australian market fell by 11%, and on the Chinese market – by 0.7%