Steel imports into China, the highest consumer of this commodity globally, fell 28% y-o-y in calendar 2023 (CY’23), reveals data maintained with BigMint. Total import volumes dropped to under 8 million tonnes (mnt) last calendar compared to around 11 mnt in CY’22. Imports into the dragon country from across geographies fell. Japan-Korea-Taiwan (JKT) led the charts but imports from here declined 26% to 5.50 mnt in CY’23 (7.50 mnt in CY’22). Exports from Southeast Asia showed a 36% drop to 1.25 mnt (2 mnt) while Europe showed a 22% fall to 0.61 mnt (0.78 mnt).
