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Morning Bites (part 1)

🔗China’s finished steel net exports surged 46% YoY in October, accelerating from the +29% YoY in September. To recap, soft domestic demand has led to elevated exports in 10mo24, which might also remain high in late-2024, amid China's concerns about global trade relations in 2025. Meanwhile, we reiterate our view that new monetary support measures announced by Beijing (as well as the additional fiscal stimulus expected to be disclosed in November) might bolster local construction activity in 2025

🪨China’s coal imports jumped 28% YoY in October, (mostly due to the low base effect from October 2023) after the +13% YoY in September. According to Bloomberg, Chinese utilities continued to build stockpiles and prepare for demand spikes over the colder season

#coal #steel   
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