China imported 11.97 million mt of steel billet in 2021, down 31.02 percent year on year.
Production restriction measures, the preference for domestic billets and slack demand resulted in the declining trend in billet imports in the given year.
In December alone, China imported 0.92 million mt of billet, down 46.63 percent month on month.
Nevertheless, the import volumes were still much higher than before the pandemic and market sources expect that imports of billet to China will continue, though their pace will depend on steel production regulating measures and overall demand.