China's 2021 steel semis imports tumble 25% YoY

China's imports of semi-finished steel products including both carbon and alloy steel semis declined by a large 25% last year from 2020's record high to reach 13.7 million tonnes, according to new statistics from the General Administration of Customs of China (GACC).

The 2021 number was still the second highest on record after 2020, reflecting the central government's efforts at encouraging the import of preliminary iron and steel products to leave domestic mills to produce more higher value-added items. Effective from May 1 last year, the country's Customs Tariff Commission of the