Ferrous import shipments to China jumped by 59pc in the first nine months of 2020 while exports declined by 21.6pc on an annual basis, according to data from Chinese customs statistics.
Iron and steel imports to China in the first nine months of the year were valued at $26.3bn, while ferrous goods accounted for $6.9bn in imports for the same period. Ferrous metal imports grew by 59.2pc while ferrous goods imports fell by 5pc. Actual volumes were not disclosed by the authorities. In September, these import categories tallied at $4.4bn and $872mn, respectively.
Exports
During the first three quarters of 2020, ferrous metal exports were estimated to be worth $24.2bn while exported ferrous goods tallied at $50bn. A negative trend of 21.6pc and 2pc, respectively, was observed over the same period last year. For September, these export segments were valued at $2.5bn and $6.2bn respectively.
| (in $bn) | ||||||
| Category | Export | Import | Variation in YTD (in pc) | |||
| Base Metals | Sept-20 | YTD 2020 | Sept-20 | YTD 2020 | Exports | Imports |
| Iron and steel | 2.5 | 24.2 | 4.4 | 26 | -21.6 | 59.9 |
| Articles thereof | 6.2 | 49.9 | 0.87 | 6.9 | -2 | -5.1 |