According to the statistics issued by China’s National Bureau of Statistics, China’s crude steel output amounted to 93.36 million mt in July this year, up 9.1 percent year on year.
Meanwhile, in July, China imported 2.606 million mt of finished steel, up 38.8 percent month on month, mostly consisting of HRC shipments. Also, the country’s imports of semi-finished products totaled 2.46 million mt in July, staying at a high level, but not showing any big change from June. As a result, China’s total imports of steel products reached 5.07 million mt. This level is almost 900,000 mt above China's exports for the month of July.
In July, China exported 4.176 million mt of finished steel, increasing by 12.8 percent month on month. Data from China’s customs showed that China was a net steel importer in July for the second consecutive month.
The Covid-19 pandemic worldwide made China a very attractive destination for steel as the country took fiscal and monetary measures to stimulate economic development, boosting infrastructure and property construction.