Posted on 17 Feb 2023
Total finished steel import in China dropped from 10.5 million tonnes to 8.1 million tonnes in the first three quarters of 2022.
Bar import dropped by half from 1.4 million tonnes to 721,517 tonnes in the same period of 2022. Major sources of import were Malaysia and the volume dropped from a million tonnes to 433,782 tonnes in the same period. China’s bar import from Malaysia just started to be as significant as a million tonnes a year in 2022 and 2021. It could be due to export from China’s investment in bar production in Malaysia. However, the volume dropped significantly in 2022. This is inline with the sharp increase in bar demand in Malaysia in first half of 2022, as reported by SEAISI earlier.
Second largest source of import was Japan. Carbon bar import from Japan shrank from 43,045 tonnes to 30,205 tonnes in the same period whereas alloyed bar import from Japan dropped from 111,514 tonnes in the first three quarters of 2021 to 86,812 tonnes in the same period of 2022.
Wire rod import declined by half to 416,769 tonnes in the first three quarters of 2022. Major sources of import were Malaysia and Japan. Carbon wire rod import from Malaysia dropped from 423,925 tonnes to 101,268 tonnes. As for Japan, import of alloyed wire rod dropped 14% y-o-y to 85,130 tonnes.
Section import declined 50,000 tonnes to 109,987 tonnes. Half of the import was from Japan and the volume dropped 20% y-o-y to 51,209 tonnes in the first three quarter of 2022.
Plates import in China declined 17% y-o-y to a million tonnes. Major sources were Japan and South Korea. Half of the import was from Japan and the volume dropped 22% y-o-y whereas import from South Korea increased 16% y-o-y to 314,307 tonnes.
Import of hot rolled coil in China declined 10% y-o-y to 1.7 million tonnes. Major sources of import were Japan, South Korea and Taiwan. Import from Japan stagnated at 1.1 million tonnes. Import from South Korea reduced moderately, at 4% y-o-y to 353,666 tonnes while import from Taiwan dropped dramatically from 165,654 tonnes to 33,726 tonnes.
Cold rolled coil import in China dropped 10% y-o-y to 2.4 million tonnes. Import from Indonesia increased dramatically, at 43% y-o-y to become the largest source of import, at 731,110 tonnes, over taken Japan.
Coated sheet import in China dropped 15% y-o-y to 1.6 million tonnes. Major sources were South Korea and Japan and both declined significantly.
China’s pipes & tubes import was not significant and the volumed declined 28% y-o-y to 194,217 tonnes. Major sources were Japan and South Korea.
The reduction in import of steel into China is expected as broad demand for steel continue to fall due to the continuing COVID lockdowns in the country at that time.
Source:SEAISI
