Local steel reserves decreased by 4.4% during the reporting period, but increased by 3% year-on-year
According to the data from the beginning of the year (to August 31), the dynamics of production remained slightly positive (1% yoy). Meanwhile, according to official NBS data, steel production decreased by 3.1% year-on-year in the first 7 months of 2025, in line with Beijing's plans to reduce "excess" supplies in 2025-26. According to market participants, these measures may affect 2-5% of steel supplies to China in 2024. *CISA — Chinese Association of Cast Iron and Steel Manufacturers
