Chinese steel imports show decline in 2004

Chinese steel imports show decline in 2004

The statistics released by the General Customs Office show that Chinese steel imports amounted to 1.95 million tons and exports reached 2.16 million tons in December 2004. Country's steel imports showed a 21.2% year-on-year decline in 2004 and reached 29.3 million tons while exports were recorded as 14.2 million tons with a 104.6% rise. Net imports of steel products amounted to 15.1 million tons last year, which was lower than the 30.2 million tons recorded in 2003. Steel billet imports and exports were registered as approximately 90'000 tons and 1.55 million tons respectively in December. For the whole year, billet imports dropped by 34.3% to 3.9 million tons. On the other hand, billet exports rose by 312% to 6.1 million tons. In addition, iron ore imports reached 210 million tons in 2004, indicating a rise of 40.5% against 2003. At the same time, Chinese stainless steel output rose by 30% from a year earlier to 2.3 million tons in 2004. Stainless steel consumption is expected to be 4.5 million tons last year.