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India increased rolled steel imports by 42.2% y/y in April-SeptemberChinese supplies to the country in this period increased by 36.7% y/y
- China’s steel exports hit 9-year high in October
Shipments increased by 40.8% y/y and 10.1% m/m
- 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
- 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
- Chinese steel exports to hit eight-year high in 2024 – FT
Such volumes threaten to increase tensions in global trade
- A number of countries have exceeded the quota for hot-rolled steel since the beginning of Q4
Australia and Brazil have not yet used their quotas for these products in the «other countries» category