In 2019, China’s import volumes of semi-finished steel amounted to 3.06 million mt, up 189.7 percent year on year, according to the monthly import and export data issued by the Chinese customs authorities. The pace of growth was 57.9 percentage points faster than that recorded in the January-November period of the year because of the further increase in imports in December.
In December, China’s imports of billet and slabs amounted to 860,000 mt, rising by 34.4 percent compared to the 640,000 mt imported in November and indicating 689.3 percent growth year on year.
Russian and Iranian suppliers have benefited the most from the hike in demand for imported semis in China.
It is expected that shipments of semis will decline in the first quarter of 2020 due to slower interest in purchases in the December-January period and the negative outlook for demand in February due to the coronavirus outbreak.