China: Billet Imports Surge Over Three Fold in Nov'19
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In Nov'19, China billet imports were recorded at 634,247 MT to register a growth of 268.2% against 172,243 MT in Oct'19. Meanwhile, country's imports have registered a Y-o-Y growth of 3,767% during the same period under consideration. During Nov'18 the country's imports were at 16,402MT.
Since Oct'19, the country is continuously imposing production curbs in order to keep a check on emission levels by the steel manufacturers which has driven the billet imports in the country amid reduced domestic availability and cheaper landed cost of imports.
Also, country's foreign garbage policy 2016, which states the ban on scrap imports, has supported the billet imports.
Chinese mills have been booking billets from Iran, India etc in last few months.
| Commodity | Nov'19 Imports in MT | Oct'19 Imports in MT | % Change M-o-M | Oct'18 Imports in MT | % Change Y-o-Y |
| Billet | 634,247 | 172,243 | 268 % | 16,402 | 3,767 % |
Source: SteelMint Stats
Currently Chinese billet prices in Tangshan are assessed at RMB 3,300/MT (USD 473/MT) including VAT.
