China’s ferrous metals imports surged by 31.6pc in the first six months of 2020, while exports fell 19.8pc according to data from the Chinese customs.
Iron and steel imports to China in June were valued at $3.4bn while articles made of iron and steel accounted for $793mn in imports during the same period. Iron and steel imports and shipments of articles made of iron and steel into China accounted for $14.2bn and $4.5bn, respectively, in H1 2020.
Ferrous imports grew 31pc in H1 2020 from the same period last year, while shipments of ferrous articles into China dipped by 7.3pc over the prior-year period. Actual volumes were not disclosed by the customs authorities.
Exports of ferrous metals in June were estimated to be worth $2.3bn while ferrous article exports tallied at $6.3bn.
In the first half of this year, these categories of export were valued at $16.8bn and $30.9bn respectively. A negative trend of 19.8pc and 6.3pc respectively was observed over the same period last year.
| (in $bn) | ||||||
| Category | Export | Import | Variation in YTD | |||
| Base Metals | Jun-20 | YTD 2020 | Jun-20 | YTD 2020 | Exports | Imports |
| Iron and steel | 2.3 | 16.8 | 3.4 | 14.2 | -19.8 | 31.6 |
| Articles thereof | 6.3 | 30.9 | 0.79 | 4.5 | 6.3 | -7.3 |