Chinese Iron Ore & Coal Imports and Steel Exports Shrink in Q1
Strategic Research Institute
Published on :
14 Apr, 2022, 6:28 am
China's General Administration of Customs latest data shows that the spread of the Covid-19 pandemic since early March resulted in the lockdown of Shanghai and strict control measures in other regions of China, which have exerted a negative impact on iron ore & coal imports. Most March steel export shipments were spot orders taken in mid-December 2021 and January, when prices in China and the overseas market were on a downward trend. Chinese domestic steel output was also on a downward trend in winter. China's winter restriction plan for mills in north China's. But Chinese steel exports in April and May are predicted to pick up as the Russia-Ukraine conflict drives up international steel prices sharply. Chinese mills also took advantage of the supply gap after sanctions were imposed on Russian supplies.
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March 2022
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Iron Ore Import – 87.28 million tonne, down 14.5% YoY
Coal Import – 16.423 million tonne, down 39.9% YoY
Finished Steel Export- 4.945 million tonne, down 34.4% YoY
Finished Steel Import– 1.011 million tonne, down 23.4% YoY
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January-March 2022
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Iron Ore Import – 268.357 million tonne, down 5.2% YoY
Coal Import – 51.812 million tonne, down 24.2% YoY
Finished Steel Export– 13.179 million tonne, down 25.5% YoY
Finished Steel Import– 3.218 million tonne, down 13.4% YoY