Ferrous import shipments to China surged by 60.2pc in the first 10 months of 2020 while exports dropped by 20.7pc on an annual basis, according to China Customs Statistics data.
Iron and steel imports to the Asian nation in January-October were valued at $29.71bn, while ferrous goods tallied at $7.74bn for the same period. Ferrous metal imports rose by 60.2pc while ferrous goods imports fell by 4.7pc. In October, these import categories tallied at $3.33bn and $793.92mn, respectively.
During the first ten months of 2020, ferrous metal exports were valued at around $26.86bn while ferrous goods exported tallied at $56.24bn. A downward trend of 20.7pc and 0.2pc, respectively, was recorded against the same period last year. China exported $2.64bn worth of iron and steel and $6.3bn worth of ferrous goods in October.
|Category||Export||Import||Variation in YTD (in pc)|
|Oct-20||YTD 2020||Oct-20||YTD 2020||Exports||Imports|
|Iron and steel||2.6||26.9||3.3||29.7||-20.7||60.2|