Morning Bites (part 1)

🔗China’s net finished steel exports rose 7% YoY in March, after the 8% gain YoY in January-February, as domestic steel demand is not recovering as much as expected, according to Reuters. To recap, the Chinese authorities are considering cutting local steel output in 2025, in an attempt to restore market balance and profitability at mills. Although the measure’s size was not specified, market participants expect China’s steel supply to decline 2-5% YoY this year; China's net steel exports (~10% of production in 2024) grew 25% last year, hence a 2.5% output cut could normalize export volumes

🪨China’s coal imports declined 6% YoY in March, vs. the +2% YoY in January-February. According to Reuters, the decline is due to high inventories at ports and weak domestic demand that has also pushed spot prices down to four-year lows

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