China

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Scrap consumption in China to fall by 3% y/y in 2024 – analysts

The annual volume of consumption is forecast at the level of 236.4 million tons

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Demand for steel in China’s manufacturing sector to grow in November – forecast

Prices in the current month will remain in a narrow range

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Baosteel produced 13.3 million tons of steel in Q3

For 9 months, the total volume of steel production by the company amounted to 39.61 million tons

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Vale and China’s Jinnan to invest $627 million in Oman processing plant

It is planned that the enterprise will begin operations in 2027

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China’s leading steel mills cut gross profit by 56% y/y in January-September

The operating income of these enterprises during the period decreased by almost 7% on an annual basis

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Apparent steel consumption in China decreased by 6.2% y/y over 9 months

The industry association calls on the country's steel plants to be disciplined in limiting production

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Iron ore imports to China may reach a record in October

The country is likely to import up to 120 million tons of this raw material during this period

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Emissions in China’s steel industry increased by 4.2% y/y in January-August

Emissions of sulfur dioxide per ton of steel were 0.19 kg/t, solid particles – 0.21 kg/t, nitrogen oxide – 0.34 kg/t

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China will reduce steel exports to 90-100 million tons in 2025 – analysts

In 2024, the indicator is expected to be at the level of 110 million tons

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Real estate investment in China fell by 10.1% y/y in January-September

Real estate sales by area decreased by 17.1% y/y over 9 months

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China reduced steel production by 1.1% m/m in September

In January-September, production decreased by 3.6% y/y

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Steel and scrap prices in Asia may rise in Q4 – forecast

Economic incentives from Beijing and rising demand may contribute to this

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