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Asia Steel Market: Positive Outlook Despite China Export Restrictions and Stable Plant Activity

Asia’s steel market shows a positive outlook, but faces challenges due to China’s export dynamics. Reports like “‘Full hit from China’: Analysts are staying bullish on Nvidia ahead of earnings, but tariffs loom large” highlight concerns about tariffs impacting businesses in China. Observed activity levels at key steel plants in Asia have remained relatively stable, indicating no immediate widespread disruptions directly correlated to the Nvidia news.

Bar chart and satellite map of steel production activity in Asia

The mean steel plant activity in Asia fluctuated between 36% and 45% over the observed period, with a slight dip to 38% in both March and May 2025.

Chengyu Vanadium & Titanium Technology Co., Ltd., a Sichuan-based integrated steel plant with a 6000 ktpa BOF capacity specializing in vanadium-containing hot-rolled steel, maintained a stable activity level between 44% and 46%. There is no direct connection observed between this stable production and the Nvidia-related news.

Xinji Aosen Iron and Steel Group Co., Ltd., located in Hebei, operates an integrated steel plant with a 3600 ktpa BOF capacity. This plant’s activity remained consistently high at 62-64%. Specializing in high-speed wire rods and hot-rolled strip products, the high and stable activity at Xinji Aosen, despite Nvidia’s challenges in the Chinese AI chip market as reported in “‘Full hit from China’: Analysts are staying bullish on Nvidia ahead of earnings, but tariffs loom large”, indicates a robust demand for its specific steel products. There is no direct connection between the Nvidia developments and the plant’s stable activity levels.

Kim Chaek Iron and Steel Complex steel plant in North Hamgyeong, Democratic People’s Republic of Korea, a large integrated steel producer with a 6000 ktpa capacity, showed a gradual decline in activity from 71% in December 2024 to 64% in May 2025. There are no named news articles related to North Korea to provide further context.

Evaluated Market Implications:

Despite Nvidia’s export challenges to China potentially influencing overall economic activity, the observed stability in the activity of Chengyu Vanadium & Titanium Technology and Xinji Aosen Iron and Steel Group, suggests stable steel supply for these regions.

  • Procurement Action: Steel buyers relying on high-speed wire rods and hot-rolled strip products from Hebei (Xinji Aosen) can expect consistent supply, but should closely monitor future trade policy developments due to the potential impact of tariffs as mentioned in “‘Full hit from China’: Analysts are staying bullish on Nvidia ahead of earnings, but tariffs loom large”.
  • Procurement Action: Buyers sourcing vanadium-containing hot-rolled steel from Sichuan (Chengyu) can anticipate stable supply but should diversify their sourcing options to mitigate the impact of potential future disruptions.
  • Monitoring Action: Analysts should monitor the Kim Chaek Iron and Steel Complex plant for further production declines, which could indicate broader economic challenges in the Democratic People’s Republic of Korea.