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China's Jan-Apr steel imports soar; to remain strong in Q3

• Thursday, June 18, 2020
• Source:ferro-alloys.com

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[Ferro-Alloys.com] China's imports of both semi-finished and finished steel products surged in April, as prices and demand in China were stronger than in other markets. The strong imports are likely to continue into Q3, as import orders placed by Chinese buyers have remained robust in June.

 

China imported 1.076 million mt of billet and 0.995 million mt of slab over January-April, soaring from just 70,000 mt and 20,000 mt a year ago, respectively, according to China Customs data quoted by state-owned media, China Metallurgical News

 

The Chinese steel market became particularly strong in April and May, as much of the construction works suspended in February and March due to the coronavirus lockdowns, were compressed into April-May. Although construction activity has slowed since June due to the rainy season, the Chinese domestic steel prices have remained attractive for overseas producers and traders.

 

Source: S&G Global Platts

 

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