Morning Bites (part 1)

🔗China’s finished steel net exports jumped 83% YoY in April, in line with the 83% YoY growth in March. Overall, during the last month, average daily steel production stayed roughly flat vs. the 2022 levels, while inventories shrank, on a YoY basis. Meanwhile, China’s strong liquidity inflows, as well as plans to construct massive infrustructure projects this year, might bolster domestic construction activity and, hence, the steel demand in 2023

🪨China’s coal imports surged 73% YoY in April (vs. the 2.5x YoY growth in March). According to Economic Times, the dynamics were affected by increased industrial demand for coal after the easing of local Covid-19 restrictions, and the recently lifted ban on Australia's shipments

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