Morning Bites (part 1)

🔗China’s finished steel net exports grew 10% YoY in July, decelerating from the +18% YoY in June. To recap, weak domestic demand (amid the prolonged property crisis) has encouraged local producers to find customers abroad, and that has led to elevated exports in 7mo24. We maintain our view that China’s steel demand is likely to remain soft in 2H24, amid the lack of significant new economic support measures

🪨China’s coal imports rose 18% YoY in July, accelerating from the +12% YoY in June. According to Reuters, imports reached a seven-month high, due to several rounds of record-breaking hot weather in mid-2024, which supported local coal demand to power air conditioning

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