Data from the General Administration of Customs on December 7 showed that China exported 8.005 million tons of steel in November 2023, an increase of 66,000 tons from the previous month and a month-on-month increase of 0.8%; from January to November, the cumulative export of steel was 82.658 million tons, a year-on-year increase of 35.6%.
In November, China imported 614,000 tons of steel, a decrease of 54,000 tons from the previous month, and a month-on-month decrease of 8.1%; from January to November, China imported a total of 6.980 million tons of steel, a year-on-year decrease of 29.2%.
In November, China imported 102.743 million tons of iron ore and its concentrates, an increase of 3.358 million tons from the previous month and a month-on-month increase of 3.4%; from January to November, China imported a total of 1,078.418 million tons of iron ore and its concentrates, a year-on-year increase of 6.2%.
In November, China imported 43.506 million tons of coal and lignite, an increase of 7.514 million tons from the previous month, a month-on-month increase of 20.9%; from January to November, China imported a total of 427.139 million tons of coal and lignite, a year-on-year increase of 62.8%.
Stronger Dollar and Profit-Taking Pressure
The combined pressure of a stronger dollar and profit-taking caused London copper to end a seven-day winning streak last week, closing down 0.56%. High copper prices are suppressing downstream demand, while market uncertainty surrounding upcoming holidays intensifies, making price trends difficult to predict. Spot copper is likely to decline today. With the strengthening of the