China’s crude steel output increased by around 6% y-o-y backed by robust demand. Crude steel output in CY’20 is expected to cross 1 bn t, CISA forecasts. Iron ore (including pellets) imports rose by another 11% y-o-y. Steel exports fell by 19.4% and imports moved up by 73% y-o-y. CISA expects steel imports to drop further & steel exports to recover in Q4.
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