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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

Photo – With episodic lockdowns, demand for steel in China is falling
With episodic lockdowns, demand for steel in China is falling

In May, steel consumption in the country decreased by 14%, while daily production increased during the month by 1-3%

Photo – Iron ore prices in China have fallen to a 7-month low
Iron ore prices in China have fallen to a 7-month low

During the last week, the value of iron ore on the Dalian Exchange decreased by 10.4%

Photo – Taiwanese steelmakers suspect Chinese traders of selling Russian steel
Taiwanese steelmakers suspect Chinese traders of selling Russian steel

Thanks to Chinese sellers, cheap steel from Russia enters the Taiwanese market, negatively affecting the local market

Photo – In May, China increased steel production to its record level in 12 months
In May, China increased steel production to its record level in 12 months

Overall, steel production fell by 8.7% in January-May due to coronavirus restrictions

Photo – China to increase iron ore imports with centralized purchases – FT
China to increase iron ore imports with centralized purchases – FT

The government wants to increase its influence on pricing and increase domestic production

Photo – EU reimposes antidumping duties on rolled aluminum from China
EU reimposes antidumping duties on rolled aluminum from China

On July 12, 2022, the European Commission will return tariffs on Chinese products after a 9-month break

Photo – China increased steel production by 5.1% in April
China increased steel production by 5.1% in April

At the same time, Chinese steelmakers reduced steel production by 10.3% in January-April

Photo – Russian steelmakers have sharply increased sales of semi-finished products to China
Russian steelmakers have sharply increased sales of semi-finished products to China

With the sanctions imposed, they had to find new markets and sell at a discount of up to 25%

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