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China's semi-finished steel imports surge on scrap ban-2020 China(Guangzhou) Int’l Laser Equipment and Sheet Metal Industry Exhibition
10/28/2019 钣金展-激光展- Laser expo, Sheet Metal Industry expo |
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Reuters reported that China’s imports of semi-finished steel surged in September as a crackdown on scrap shipments saw Chinese buyers scoop up alternative forms of the metal from other Asian countries at favorable prices. According to data released by the General Administration of Customs, the world’s biggest steel producer and consumer last month took in 370,000 tonnes of steel semis from overseas. That was up 418% year-on-year and marked the highest monthly total in records on the customs website going back to June 2014. It was also up from 260,000 tonnes in August. Mr Zhuo Guiqiu, an analyst with Jinrui Futures said that “The rising imports came after China tightened restrictions on steel scrap imports, noting that some countries in East and Southeast Asia had to process steel scrap into semi-finished products to keep selling into China. China tightened restrictions on scrap metal imports from July 1, as part of a sweeping campaign against “foreign garbage”.
It bought less than 10,000 tonnes of steel scrap in September and merely 180,000 tonnes in the first nine months of 2019, down 83.7% from a year earlier.
Semi-finished steel product imports, mostly consisting of steel billets, meanwhile rose 53.1% YoY in the first three quarters to 1.37 million tonnes, customs data showed.
钣金展-激光展-2020年第二十一届广州国际激光设备及钣金工业展
-2020
China(Guangzhou) Int’l Laser Equipment and Sheet Metal Industry Exhibition
-Sheet metal exhibition, Sheet metal expo,
2020 Sheet metal exhibition, 2020 Sheet metal expo, China Sheet metal
exhibition, China Sheet metal expo, Laser Equipment exhibition, Laser Equipment
expo, 2020 Laser Equipment exhibition, 2020 Laser Equipment expo, Laser exhibition, Laser expo
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