China: Steel billets imports fall nearly 60% y-o-y in Jan-Nov’22

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China’s billets imports fell by 58% y-o-y to 4.65 mnt in Jan-Nov’22 as against 11.05 mnt in the same period last year.
Preference for domestic billets, weak end-user demand, subdued finished steel sentiments, and lockdown restrictions in the region continued to weigh on imports.
Import volumes fell sharply by 91% m-o-m to 38,090 t in Nov’22 as against 417,554 t in October.

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