Chinese steel exports rose 22% to 61 mnt over January-July, 2024. But, steel imports naturally dropped 7% to around 4 mnt in this period. Chinese HRC export offers have fallen 13% in January-July, 2024 to $541/t FOB against $619/t FOB seen in the same period in 2023. Automobile production upped 3% to above 16 million units but sales have fallen off from the over 3 MU seen in December 2023 and were down 11.4% m-o-m in July.
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