China: Steel billet imports fall over 40%, y-o-y, in Jan-Jul’22

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China’s steel billet imports fell by 43.65% y-o-y in Jan-Jul’22 to 3.28 mnt from 5.82 mnt in the year-ago period, as per customs data.
Russia was the largest exporter with 1.21 mnt followed by Oman and Iran at 0.63 mnt and 0.35 mnt, respectively.
Steel production cuts and the upsurge in Covid-19 cases followed by lockdown restrictions kept the import bookings subdued in the period under review.

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