China: Steel billet imports drop over 65% y-o-y in Jan-Feb’23

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China’s billet imports fell by 67% y-o-y to 411,232 t in Jan-Feb’23 as against 1.26 mnt in the same period last year.
Preference for domestic billets, weak end-user demand, and subdued finished steel sentiments weighed on imports.
However, import volumes rose manifold by 878% m-o-m to 373,098 t in Feb as against 38,134 t in Jan.

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