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Photo – TEST European steel sector calls for action plan to safeguard industry in face of crisis
TEST European steel sector calls for action plan to safeguard industry in face of crisis

Policymakers in Europe need to follow a “steel action plan” to a avert a crisis in steelmaking, the European steel industry association Eurofer said this week

Photo – China increased iron ore production by 5.7% y/y in the first half of 2023
China increased iron ore production by 5.7% y/y in the first half of 2023

In June, iron ore production increased by 1.8% y/y and 9.7% m/m

Photo – EEC extended anti-dumping duty on Chinese rolled products
EEC extended anti-dumping duty on Chinese rolled products

Duty on China's coated steel to continue for another five years

Photo – EU extended anti-dumping duties on Chinese seamless pipes
EU extended anti-dumping duties on Chinese seamless pipes

Tariffs on Chinese products were kept at the level of 29.2-54.9%

Photo – Indian traders are buying cheaper steel from China
Indian traders are buying cheaper steel from China

Chinese steel products are offered at deep discounts, which is a problem for local producers

Photo – Some Chinese steel companies expect losses in the first half of 2023
Some Chinese steel companies expect losses in the first half of 2023

Such forecasts are assumed by Linyuan I&S, Shandong I&S, Chongqing I&S, Xinjiang Bayi Steel and Ma'anshan I&S

Photo – Asian iron ore market may show a decline in the 3rd quarter – forecast
Asian iron ore market may show a decline in the 3rd quarter – forecast

Weaker demand from China's steel producers is expected in this period

Photo – China increased steel production by 1.3% y/y in the first half of 2023
China increased steel production by 1.3% y/y in the first half of 2023

In June, Chinese steel production increased by 0.4% y/y and 1.1% m/m. Factories are encouraged by rising product prices

Photo – China increased iron ore imports by 7.7% y/y in January-June
China increased iron ore imports by 7.7% y/y in January-June

In June, Chinese steelmakers increased the import of iron ore by 7.3% y/y

Photo – India to refrain from duties on certain steel products from China – Reuters
India to refrain from duties on certain steel products from China – Reuters

In this way, consumers will be protected, despite the damage to steel producers.

Photo – China increased steel export by 31.3% y/y in January-June
China increased steel export by 31.3% y/y in January-June

In June, Chinese steel companies shipped 10.1% less steel abroad than in May

Photo – Domestic demand for steel in China will increase in September-October
Domestic demand for steel in China will increase in September-October

In the second half of the year, the government is likely to introduce a policy of moderate control

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