Morning Bites (part 1)
🔗China’s finished steel net exports rose 19% YoY in November, after the +46% YoY surge in October. To recap, soft domestic demand led to elevated exports in 11mo24, which might also remain high in late-2024, amid China's concerns about global trade relations in 2025. We reiterate our view that the new monetary support measures announced by Beijing (as well as the additional stimulus to be discussed at the economic forum on 11-12 December) might bolster local construction activity in 2025
🪨China’s coal imports jumped 26% YoY in November, after the 28% YoY rise in October. According to Reuters, China's coal imports surged to a record high in November, as imported supply was cheaper than domestic coal
🏭 China’s aluminum exports surged 37% YoY in November (the volume has only been surpassed once before, in May 2022), ahead of China's 13% export rebates cancellation from December
#coal #steel
https://metals-wire.com/news-reports
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