Morning Bites (part 3)

🇨🇳China might limit domestic steel production at the 2022 level, Bloomberg reports. Beijing is to release the plan in April, as China's steel production grew 6% YoY in 2mo23, but demand in the country has not substantially picked up yet. Overall, if the plan was to materialise, it might be negative for iron ore sentiment (China represents ~56% of world steel supply), but support steel prices

#steel
https://metals-wire.com/sector/Steel