China: Steel billet imports fall 60% y-o-y in CY’22

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China’s billet imports fell by 60% y-o-y to 4.73 mnt in CY’22 as against 11.97 mnt in the same period last year.
Preference for domestic billets, weak end-user demand, subdued finished steel sentiments weighed on imports.
However, import volumes rose sharply by 90% m-o-m to 72,508 t in Dec’22 as against 38,090 t in Nov.

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