China - Latest news GMK Center

In the week of December 12-19, 2022, scrap quotations in Turkiye increased by $5/t – to $382-388/t

CMRG consolidates raw material purchases of about 20 of the largest Chinese steel producers

During this period, the production of steel products fell by 0.7% y/y, and pig iron – by 0.4% y/y

Prices continue to be driven by positive market sentiment and demand expectations in China

In the week of December 5-12, 2022, scrap quotations in Turkiye remained at $383/t

In 2021, Chinese steelmakers exported more than 3 million tons of steel to the EU

On the Asian and American markets, prices for hot-rolled coils increased

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