Morning Bites

🔗China’s finished steel net exports surged 83% YoY in March, in line with the 83% YoY growth in January-February. Meanwhile, last month, average daily steel production mostly remained at the same level as in 2022, while inventories shortened, on the YoY basis. To recap, according to a recent Bloomberg report, China is planning to construct massive infrustructure projects this year, which might support domestic construction activity and, hence, the demand for steel in 2023

🪨China’s coal imports skyrocketed 151% YoY in March (vs. 71% YoY growth in January-February). According to Reuters, the strong dynamics were mostly due to utilities, which increased purchases amid expectations of a recovery in demand. Meanwhile, imported coal volumes were at their highest in the last three years

#coal #steel
https://metals-wire.com:3000/news-reports