Morning Bites (part 1)

🔗China’s finished steel net exports jumped 35% YoY in January-February, decelerating from the 50% YoY growth in December. Meanwhile, we remind readers that China has recently posted strong liquidity injections data for January (historically, the most important month), which might bolster domestic construction activity and, hence, the demand for steel in 2024

🪨China’s coal imports rose 23% YoY in January-February, following the 53% YoY spike in December. The figure was likely supported by some stock replenishment after the cold wave in late-2023 and consumer efforts to stock up before the new import tariffs took effect in January 2024. As a recap, China restored coal import tariffs of 3-6% on countries without two-way free trade pacts (applies largely to key suppliers Mongolia and Russia), which might add some support to coal prices this year

#coal #steel
https://metals-wire.com/news-reports