Import of ferrous metals into China surged 42.6pc in the first six months while exports fell 20.4pc according to data from Chinese customs statistics.
China imported $17.5bn worth of Iron and steel in the first seven months and received $5.2bn worth of iron and steel goods during the same period. In July, iron and steel and articles made of this material were valued at $3.75bn and $830mn, respectively.
The Chinese customs did not disclose the actual volumes but indicated that ferrous imports grew by 42.6pc from January-July 2019 and imported ferrous articles dipped by 7.1pc over the same period.
In the first seven months of 2020, ferrous exports were valued at $19.4bn and ferrous articles exported were at $37.4bn. A negative trend of 20.4pc and 4.6pc, respectively, was observed over the same period last year. Exports of ferrous metals in July were estimated to be worth $2.6bn while ferrous article exports tallied at $6.6bn.
|Category||Export||Import||Variation in YTD (in pc)|
|Jul-20||YTD 2020||Jul-20||YTD 2020||Exports||Imports|
|Iron and steel||2.6||19.4||3.8||17.9||-20.4||42.6|