Chinese import levels rose significantly in 2002

Chinese import levels rose significantly in 2002

According to official data, Chinese steel imports in 2002 totalled to a figure of 31 million tons, increasing by a 40% exceeding the total imports of the US by 1.5 million tons in the same period. Besides the increasing import levels, China increased its domestic production as well. Finished carbon steel imports into China increased by 42% over the 2001 figures last year. Stainless steel flats imports also increased by 32%, amounting to a 2.6 million tons in 2002. The country's domestic crude steel production increased by 20% while the imports levels of semi finished goods dropped by 455 to 4.7 million tons. 80% of total Chinese imports are composed of carbon and stainless steel flat products in 2002.