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Photo – CISA urges China’s steelmakers to curb production
CISA urges China’s steelmakers to curb production

The country's steel producers have faced weaker demand and rising costs

Photo – Steel consumption in China in 2023 will amount to 960 million tons – forecast
Steel consumption in China in 2023 will amount to 960 million tons – forecast

Excess steelmaking capacity remains a problem for the country

Photo – World coking coal prices are falling amid low buyer activity
World coking coal prices are falling amid low buyer activity

Quotations of coking coal for the week of April 11-18, 2023, in Australia decreased by 7.1%, in China – by 7.4%

Photo – China cut iron ore output by 5% y/y in March
China cut iron ore output by 5% y/y in March

In the first quarter, production remained at the level of the same period last year

Photo – The real estate sector will not be able to support the demand for steel in China
The real estate sector will not be able to support the demand for steel in China

Steel prices in the country may again reach high levels in November-December 2023

Photo – China increased steel production by 6.1% y/y in the first quarter
China increased steel production by 6.1% y/y in the first quarter

In March, Chinese steelmakers increased steel output by 6.9% y/y

Photo – Mongolia is promoting the sale of coal through the stock exchange
Mongolia is promoting the sale of coal through the stock exchange

Coking coal prices may be affected by weak demand from China

Photo – Global rebar prices are falling due to weak market sentiment
Global rebar prices are falling due to weak market sentiment

China is reinforcing this trend by trying to expand exports at reduced prices

Photo – China will limit steel production to the level of 2022 in 2023
China will limit steel production to the level of 2022 in 2023

The plan should be announced by the end of April 2023

Photo – China increased iron ore imports by 9.8% y/y in Q1
China increased iron ore imports by 9.8% y/y in Q1

In January-March, Chinese steelmakers imported 294.33 million tons of iron ore

Photo – China seeks to reduce excess steelmaking capacity
China seeks to reduce excess steelmaking capacity

The country's steel plants have not yet shown signs of reducing production

Photo – The global rolled steel market is under the pressure of weakening demand
The global rolled steel market is under the pressure of weakening demand

The European market is breaking out of the general trend due to limited supply

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