China: Steel imports fall by 13%, y-o-y, in Q1CY’22

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China’s steel imports in Q1CY’22 fell by 13.48% y-o-y to 3.21 mnt from 3.71 mnt in the same period last year, as per customs data.
Preference for domestic steel, a sudden surge in COVID-19 cases across large parts of the country and weakened end-user demand impacted the country’s import bookings.
However, import volumes remained largely stable at 1.01 mnt in Mar’22 as against 0.95 mnt in Feb.

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