China’s Major Viewpoints

18 January 2023
China’s Major Viewpoints

         About Steel: This week is the last week before Chinese New Year, and Chinese domestic steel market is quite with low transactions, and prices are mainly stable with slight fluctuation in some markets.

          About raw materials: From Monday to Tuesday, the domestic prices of metallurgical coke, coking coal and PCI were mainly stable.

          The prices of imported iron ore fluctuated with downward trend, and the transactions decreased; The domestic prices of semis fell slightly, and as of Tuesday, the Ex-word price of standard billet in Qian'an District, Tangshan, declined by 50 yuan to 3800 yuan/ton; The domestic prices of steel scrap fell in some markets.

          About Macro: According to the National Bureau of Statistics, China's GDP in 2022 reached 121020.7 billion yuan, an increase of 3.0% over the previous year.

          About Industry: In December,2022, China's crude steel, pig iron and finished steel output were 77.89 million tons, 69 million tons and 111.93 million tons respectively, down 9.8%, 4.6% and 2.6% year on year; The average daily output was 2.5126 million tons, 2.2258 million tons and 3.6106 million tons respectively, with a year-on-year increase of 1.1%, a decrease of 1.8% and a decrease of 0.8%.


Source : Steelhome

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