China's Nov steel semis imports hit 14-month high

Arrivals of imported steel semis in China totaled 1.82 million tonnes in November, the highest since September 2020, the latest detailed statistics from China's General Administration of Customs (GACC) showed. The robustness of China's domestic market in late summer had prompted enthusiastic buying among local traders and end-users, market sources noted.

Most of the cargoes arriving at Chinese ports in November were for orders signed in September, when "the domestic market had performed relatively well" and the price gap between the domestic and overseas markets provided Chinese importers with opportunities, according to a Shanghai-based analyst. On September 30 for example, Mysteel's data show that the price