China’s semi-finished steel imports rose by 3,100pc to 640,000mt in November from the prior year as mills in China consumed semi-finished steel products amid strict restrictions on import of scrap.
This rise in imports of semi-finished steel products can be attributed to Chinese government’s restrictions on imports of scrap from Jul 1 onwards. The country imported 2,190,000mt of semis in the Jan-Nov period, up by 130pc or 620,000mt from 2018, according to China’s customs data.
The import of finished steel products decreased by 20,000mt to 1,040,000mt in November from the prior year. The imports in Jan-Nov
period fell by 1,340,000mt to 10,820,000mt from 2018. The imports of bars rods of steel and iron increased by 40,000mt to 130,000mt in November, but declined by 60,000mt to 130000mt in Jan-Nov period compared to the prior year. Imports of angles, shapes and sections declined by 10,000mt to 20,000mt and that of sheets and plates declined by 30,000mt to 850,000mt.