Semi-finished steel imports in China indicated sharp declines in the first half this year, mainly due to the sharp drop in billet shipments. In both May and June, China’s billet exports were very limited as sales transacted in March and April were slow.
In total, billet and slab imports in China amounted to around 264,200 mt in June, while in May the semi-finished steel shipments were 360,000 mt.
China imported 24,700 mt of billet in June, down significantly by 98 percent year on year, according to China’s customs authorities. In the January-June period this year, billet imports in China totaled 1.31 million mt, dropping 66 percent year on year.
Slab imports amounted to 239,500 mt in June, up 917 percent year on year, due to the sharp increase in ex-Russia slab bookings since the beginning of this year. It was because of the large discounts and limited sales options for Russian suppliers due to Western sanctions, implemented since March against Russia due to its invasion of Ukraine.
