"The previously pent-up steel consumption will not disappear. It will only be delayed," Shi said.

Facing the pressure of increasing uncertainties in the global energy market caused by geopolitical conflicts, China has pledged maximum efforts to safeguard its energy supply.

Of the 50 major goods monitored by the government, including seamless steel tubes, gasoline, coal, fertilizer and some chemicals.

Crude steel output in Hebei down 24.8% YoY in Q1, 2022.

Mining Indaba: How SA can benefit from the vanadium value chain

U.S. to Lift Tariffs on Ukrainian Steel

The ArcelorMittal plant in Kryvyi Rih, Ukraine. The steel sector is a significant source of economic growth and employment for Ukraine.Credit...David Guttenfelder for The New York Times

ArcelorMittal increases buyback program, sees global steel dip