China’s steel imports for 9 months increased by 72.2%

The Ministry of Industry and Informatization of reported that in September this year the country has recorded the maximum volume of steel imported from abroad in history at 2.89 million tons.

The import for it averaged 689 dollars per ton. The volume of foreign steel supplies to China in January-October reached 15.07 million tons. As for the same index in 2019, steel purchases jumped by 72.2%. In addition, in the period from January to October 2020, China exported to other countries 40.39 million tons of steel. This is 19.6% less than the same figure for the previous year.

In nine months, China’s enterprises smelted 781.59 million tons of steel. During the year, its volume increased by 4.5%. It is expected that by the end of this year steel production will exceed 1 billion tons. As for the output volume at the end of 2019, the growth will amount to 3-5%.

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