China’s steel imports continue to fall month on month in Nov

China’s steel imports continue to fall month on month in Nov

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In November this year, China imported 1.854 million mt of finished steel, up 77.9 percent year on year, while down 4.04 percent month on month. In October, the month-on-month drop in import volumes was 33 percent, as SteelOrbis reported earlier. The negative trend continued as the gap between international prices and local Chinese prices narrowed.

In October, China had lost its status as a net steel importer as the country’s inward shipments (including semis) were around 3.6 million mt, while exports were slightly above 4 million mt. It is expected that China will be a net steel exporter up to the end of the year. 

China imported 18.559 million mt of finished steel during the January-November period of the current year, increasing by 74.3 percent year on year, 0.4 percentage points higher compared to the increase recorded in the first ten months this year.

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