Import of ferrous metals into China surged 42.6pc in the first six months while exports fell 20.4pc according to data from Chinese customs statistics.
China imported $17.5bn worth of Iron and steel in the first seven months and received $5.2bn worth of iron and steel goods during the same period. In July, iron and steel and articles made of this material were valued at $3.75bn and $830mn, respectively.
The Chinese customs did not disclose the actual volumes but indicated that ferrous imports grew by 42.6pc from January-July 2019 and imported ferrous articles dipped by 7.1pc over the same period.
In the first seven months of 2020, ferrous exports were valued at $19.4bn and ferrous articles exported were at $37.4bn. A negative trend of 20.4pc and 4.6pc, respectively, was observed over the same period last year. Exports of ferrous metals in July were estimated to be worth $2.6bn while ferrous article exports tallied at $6.6bn.
| (in $bn) | ||||||
| Category | Export | Import | Variation in YTD (in pc) | |||
| Jul-20 | YTD 2020 | Jul-20 | YTD 2020 | Exports | Imports | |
| Iron and steel | 2.6 | 19.4 | 3.8 | 17.9 | -20.4 | 42.6 |
| Articles thereof | 6.6 | 37.4 | 0.83 | 5.2 | -4.6 | -7.1 |