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China 2020 steel imports over 20 mln t, a high in record

China’s finished steel imports totaled 20.2 million tonnes for 2020, or up 64.4% on year, according to the Latest statistics from the country’s General Administration of Customs (GACC) on January 14, a new high since 2006 when Mysteel started archiving the GACC data, mainly due to the country’s fast recovery from the impact of the COVID-19 and the affordability of the overseas supplies.
The 64.4% on-year increase for 2020, nevertheless, declined notably from the 74.3% on-year jump over January-November. In contrast, China’s finished steel exports declined 16.5% on year to 53.7 million tonnes in 2020, partly as the country had been a net steel importer with steel semis included in the calculation over June-September and November of 2020. The


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