icon

China - Latest news GMK Center

Photo – China Baowu Steel acquired 51% shares of major steelproducer XinSteel
China Baowu Steel acquired 51% shares of major steelproducer XinSteel

The deal amounted to 4.26 billion yuan ($630 million)

Photo – Steel plants continue to stop production all over the world
Steel plants continue to stop production all over the world

Declining steel production is a new global trend

Photo – China intends to increase scrap processing capacity to 180 million tons by 2025
China intends to increase scrap processing capacity to 180 million tons by 2025

Against the backdrop of the development of electric steelmaking in the country, scrap processing capacities will increase by 30 million tons

Photo – Business expectations of Chinese steelmakers updated a historical low in July
Business expectations of Chinese steelmakers updated a historical low in July

The Purchasing Managers' Index expectations in the steel industry in China in July fell by another 3.2 percentage points.

Photo – Many Chinese steel plants left for maintenance due to low demand
Many Chinese steel plants left for maintenance due to low demand

Also, a number of enterprises for the same reasons stopped their blast furnaces

Photo – Baowu Group produced 61.5 million tons of steel in the first half of the year
Baowu Group produced 61.5 million tons of steel in the first half of the year

During the same period, the company's operating revenue amounted to $73.6 billion.

Photo – China has increased coking coal imports by 17% in six months
China has increased coking coal imports by 17% in six months

In June, the supply of raw materials to the country increased by 20.5%

Photo – Iron ore prices in China will fall to $70/t in the third quarter – Goldman Sachs
Iron ore prices in China will fall to $70/t in the third quarter – Goldman Sachs

This forecast is based on the crisis in the Chinese real estate market

Photo – China extends duties on electrical steel from Japan, South Korea and the EU
China extends duties on electrical steel from Japan, South Korea and the EU

Anti-dumping duty rates vary from 37.3% to 46.3% for companies from different countries

Photo – China increased coal imports from Russia by 22% in June
China increased coal imports from Russia by 22% in June

Discounts on raw materials from Russian sellers attract Chinese consumers

Photo – China reduced steel production by 6.5% in H1 2022
China reduced steel production by 6.5% in H1 2022

The production of finished steel fell by 4.6% in the first half of the year, and pig iron – by 4.7%

Photo – Chinese steelmakers’ business expectations reached a minimum in June
Chinese steelmakers’ business expectations reached a minimum in June

No expectations for significant improvements in July too

1 57 58 59 60 61 62