China imports 420,513 tonnes of steel scrap over Jan-Jul

Over January-July, China’s steel scrap imports totaled 420,513 tonnes, multi-time higher than the 13,142 tonnes a year ago, and July volume gained after one month of decline, up 14.8% to 93,215 tonnes, Mysteel Global calculated based on the data from the country’s General Administration of Customs (GACC), indicating that the Chinese steelmakers and traders had been importing steadily whenever it made business sense.

Last month, Japan remained China’s largest steel scrap supplier with 70,400 tonnes, or accounting for 75.6% of the total volume, and South Korea, the second largest supplier selling 14,800 tonnes of steel scrap to China, or accounting for 15.8% of the total, which was of little surprise due to their geographical proximity